Mintz Levin Intellectual Property Practice Represents Protalix in $60 Million Licensing Agreement with Pfizer Inc.
12/4/2009
Boston, MA - Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. represented Protalix (NYSE-Amex: PLX), a leading biopharmaceutical company, in its licensing agreement with Pfizer Inc. to develop and commercialize a potential treatment for Gaucher's disease, a genetic disorder.
Mintz Levin advised Protalix on the IP aspects of the transaction. The patent work was led by Ivor Elrifi, Co-Chair of the Intellectual Property Section who has been recognized as one of the top intellectual property and patent litigation lawyers in the life sciences sector, as well as David Johnson, a member in the firm's Intellectual Property Section who focuses primarily in the area of biotechnology.
Under the agreement, Pfizer will make an upfront payment of $60 million to Protalix. In addition, Protalix is eligible to receive additional regulatory milestone payments of up to $55 million. Pfizer and Protalix will share future revenues and expenses for development and commercialization on a 60 percent/40 percent basis respectively.
At the forefront of the intellectual property field, Mintz Levin's fully-integrated practice has more than 90 attorneys, scientists and other professionals focused on the protection, licensing and enforcement of intellectual property rights across all of its offices. The firm provides comprehensive, practical advice to a wide range of emerging and established technology-based businesses in high technology, biotechnology, life sciences, medical devices, manufacturing, nanotechnology, and telecommunications, as well as other industries.
