TASE approves new listing of PROLOR Biotech's common stock

PROLOR Biotech, Inc., (NYSE Amex: PBTH), a company developing next generation biobetter therapeutic proteins, today announced that the Tel Aviv Stock Exchange (TASE) has approved the new listing of PROLOR's common stock on the TASE beginning on Thursday, May 27, 2010.  At that time, the company's common stock will be listed on both the NYSE Amex in the United States and the TASE in Israel.  The company also announced today that, based upon PROLOR's current market capitalization, it expects its shares to be subject to inclusion in four TASE equity indexes beginning June 13, 2010: the TA-100, TA-75, Tel-Tech 15 and Biomed.  

"We believe that PROLOR's CTP technology, which has the potential to extend the duration of virtually any therapeutic protein, could significantly improve the treatment of prevalent diseases and conditions worldwide, as demonstrated by the encouraging clinical data we recently reported on our CTP-enhanced version of human growth hormone," said Shai Novik, President of PROLOR.  "We believe this dual listing reflects the company's significant prospects and will provide our stockholders with greater liquidity and the company with greater access to capital, including Israel-focused institutional investors."

Mr. Novik added: "We look forward to joining Israel's top companies and biopharmaceutical innovators as part of the TA-75, TA-100, Tel Tech 15 and Biomed indexes."

"We are very pleased to welcome PROLOR to the Tel Aviv Stock Exchange," said Ester Levanon, CEO of the Tel Aviv Stock Exchange.  "The TASE is home to Israel's most innovative companies, among them over 50 dual-listed companies. Dual listing provides a variety of benefits to companies such as PROLOR, including added exposure to Israeli investors, greater liquidity, expanded trading hours and access to TASE index funds."

PROLOR is, and will remain, subject to the applicable rules and regulations of NYSE Amex-listed companies and the U.S. Securities and Exchange Commission.  Under Israel's Dual Listing Law, U.S.-listed companies may also list on the TASE without any additional regulatory requirements.  Trading on the TASE occurs Sunday through Thursday from 8:30 am to 4:30 pm Israel time, except on TASE trading holidays, and trading on the NYSE Amex occurs Monday through Friday, 9:30 am to 4:00 pm Eastern Time, except on NYSE Amex holidays.  The TASE Clearing House is electronically linked to the Depository Trust Company, a subsidiary of the Depository Trust & Clearing Corporation, to automate the cross-border settlement of shares listed on both the TASE and a U.S. Exchange.

SOURCE PROLOR Biotech, Inc.