Protalix proposes $60 million notes offering

Protalix BioTherapeutics Inc. (NYSE-M:PLX; Tel Aviv:PLX) is planning to raise $60 million through the sale of unsubordinated, unsecured convertible notes due 2018 to institutional investors. Protalix is using its ProCellEx plant cell-based protein expression system to create recombinant proteins that are equivalent to or superior to already marketed recombinant proteins. The company's first approved product is Elelyso taliglucerase alfa, a cell-expressed recombinant form of human glucocerebrosidase (GCase) that partner Pfizer Inc. (NYSE:PFE) markets in the U.S. to treat adults with Gaucher's disease. ...