Protalix merges with Orthodontix

Orthodontix has agreed to merge with the Israeli biotech firm Protalix Biotherapeutics in a deal expected to close in the fourth quarter. The combined entity will operate as Protalix Biotherapeutics. Protalix contributes its plant cell culture platform and bioreactor system that together enable the growth of a uniform biomass of plant cells that can express human therapeutic proteins. Protalix's lead product candidate, an enzyme replacement therapy for Gaucher's disease, is scheduled to enter into Phase III clinical trials this fall. In a parallel move, a group of investors led by Phillip Frost, former chairman and CEO of Ivax Corp., agreed to sink $15 million into Protalix through a share purchase agreement. Frost bought control of Orthodontix-which essentially has no business activities-in late 2005, with the intention of acquiring other firms and eventually going public.