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      AND EXCHANGE COMMISSION</strong></font></div>
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      DC 20549</strong></font></div>
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      8-K</strong></font></div>
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      REPORT PURSUANT</strong></font></div>
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      SECTION 13 OR 15</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>(d)</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>
      OF THE</strong></font></div>
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      EXCHANGE ACT OF 1934</strong></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date
      of
      report (Date of earliest event reported)</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>
      July
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                INC.</font></div>
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                Employer Identification No.)</font></div>
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                Union Square Drive, New Hope, PA</font></div>
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            <td align="justify" valign="top" width="80%" style="border-bottom: black thin solid;">&#160;</td>
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            <td valign="top" width="80%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Former
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                Report)</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: -72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      1.02.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Termination
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Effective
      July 7, 2006, Protalex, Inc. (the &#8220;Company&#8221;) and certain holders of the
      Company&#8217;s common stock agreed to terminate the First Amended and Restated
      Shareholder Agreement (the &#8220;Shareholder Agreement&#8221;). The Shareholder Agreement
      contained a voting agreement which obligated parties to the agreement to fix
      and
      maintain the number of directors at seven and to cause and maintain the election
      of one candidate designated by vSpring SBIC, L.P. (&#8220;vSpring&#8221;) to the Company&#8217;s
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      Board of Directors, Steven H. Kane, President, Chief Executive Officer and
      Director of the Company, Frank M. Dougherty, Director of the Company, Marc
      L.
      Rose, Vice President of Finance, Chief Financial Officer, Treasurer and
      Corporate Secretary of the Company, Thomas P. Stagnaro, a Director of the
      Company, vSpring, Integral Capital Partners VI, L.P., and SF Capital Partners
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      and Restated Shareholder Agreement (the &#8220;Termination Agreement&#8221;) entered into by
      vSpring, certain original investors of the Company and a majority-in-interest
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      Agreement is attached to this Current Report on Form 8K as Exhibit 99.1 and
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              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Termination
                of First Amended and Restated Shareholder
                Agreement</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
      to the requirements of the Securities Exchange Act of 1934, the registrant
      has
      duly caused this report to be signed on its behalf by the undersigned hereunto
      duly authorized. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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          <tr valign="top" bgcolor="#ffffff">
            <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
            <td width="49%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
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            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Protalex,
                Inc.</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                <hr style="COLOR: black" align="left" noshade size="2" width="80%">
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              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Registrant)</font></div>
            </td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;<br>&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;<br>&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;<br>&#160;</font></td>
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          <tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">Date:&#160;&#160;
              7/13/06</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">/s/
                Marc L.
                Rose</font></div>
            </td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td colspan="2">
              <div style="MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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            </td>
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              <hr style="COLOR: black" align="left" noshade size="2" width="80%"><font size="2">By:
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                </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Vice
                President of Finance, </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Chief
                Financial Officer, Treasurer and </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Corporate
                Secretary</font></div>
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      Index</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
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                </font></div>
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                No. </strong></font></div>
            </td>
            <td align="left" valign="bottom" width="3%" style="border-bottom: #ffffff solid;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
                </font></div>
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                </strong></font></div>
            </td>
          </tr>
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            </td>
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                Amended and Restated Shareholder
                Agreement</font></div>
            </td>
          </tr>

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{"company-data": {"conformed-name": "PROTALEX INC", "cik": "0001099215", "assigned-sic": "8731", "irs-number": "912003490", "state-of-incorporation": "DE", "fiscal-year-end": "0531"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-28385", "film-number": "06959587"}, "business-address": {"street1": "145 UNION SQUARE DRIVE", "city": "NEW HOPE", "state": "PA", "zip": "18938", "phone": "215-862-9720"}, "mail-address": {"street1": "145 UNION SQUARE DRIVE", "city": "NEW HOPE", "state": "PA", "zip": "18938"}}
UNITED
      STATES
SECURITIES
      AND EXCHANGE COMMISSION
WASHINGTON,
      DC 20549
FORM
      8-K
CURRENT
      REPORT PURSUANT
TO
      SECTION 13 OR 15
(d)
OF THE
SECURITIES
      EXCHANGE ACT OF 1934
Date
      of
      report (Date of earliest event reported)
July
      13, 2006 (July 7, 2006)
PROTALEX,
                INC.
(Exact
                Name of Registrant as Specified in Its Charter)
Delaware
(State
                or Other Jurisdiction of
                Incorporation)
000-28385
91-2003490
(Commission
                File Number)
(IRS
                Employer Identification No.)
145
                Union Square Drive, New Hope, PA
18938
(Address
                of Principal Executive Offices)
(Zip
                Code)
215-862-9720
(Registrant's
                Telephone Number, Including Area Code)
(Former
                Name or Former Address, if Changed Since Last
                Report)
Check
      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of the registrant under any of the following
      provisions (
see
General
      Instruction A.2. below):
o
Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)
o
Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)
o
Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))
o
Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))
Item
      1.02.
Termination
      of a Material Definitive Agreement
Effective
      July 7, 2006, Protalex, Inc. (the "Company") and certain holders of the
      Company's common stock agreed to terminate the First Amended and Restated
      Shareholder Agreement (the "Shareholder Agreement"). The Shareholder Agreement
      contained a voting agreement which obligated parties to the agreement to fix
      and
      maintain the number of directors at seven and to cause and maintain the election
      of one candidate designated by vSpring SBIC, L.P. ("vSpring") to the Company's
      Board of Directors.
Parties
      to the Shareholder Agreement included G. Kirk Raab, Chairman of the Company's
      Board of Directors, Steven H. Kane, President, Chief Executive Officer and
      Director of the Company, Frank M. Dougherty, Director of the Company, Marc
      L.
      Rose, Vice President of Finance, Chief Financial Officer, Treasurer and
      Corporate Secretary of the Company, Thomas P. Stagnaro, a Director of the
      Company, vSpring, Integral Capital Partners VI, L.P., and SF Capital Partners
      Ltd.
The
      Shareholder Agreement was terminated pursuant to a Termination of First Amended
      and Restated Shareholder Agreement (the "Termination Agreement") entered into by
      vSpring, certain original investors of the Company and a majority-in-interest
      of
      the investors who were a party to the Shareholder Agreement. The Termination
      Agreement is attached to this Current Report on Form 8K as Exhibit 99.1 and
      its
      terms are incorporated by reference into this Item 1.02.
Item
      9.01
Financial
      Statements and Exhibits
99.1
Termination
                of First Amended and Restated Shareholder
                Agreement
SIGNATURES
Pursuant
      to the requirements of the Securities Exchange Act of 1934, the registrant
      has
      duly caused this report to be signed on its behalf by the undersigned hereunto
      duly authorized.
Protalex,
                Inc.
(Registrant)
Date:  
              7/13/06
/s/
                Marc L.
                Rose
By:
              Marc L. Rose
Title:
Vice
                President of Finance,
Chief
                Financial Officer, Treasurer and
Corporate
                Secretary
Exhibit
      Index
Exhibit
                No.
Description
99.1
First
                Amended and Restated Shareholder
                Agreement