Healthcare Industry News: thrombin
News Release - January 10, 2008
LFB Biotechnologies to Collaborate with GTC Biotherapeutics on Coagulation Factor IX ProgramFRAMINGHAM, Mass.--(HSMN NewsFeed)--GTC Biotherapeutics, Inc. ("GTC", Nasdaq: GTCB) announced today that LFB Biotechnologies has agreed to include the recombinant human coagulation factor IX program in the existing collaboration between GTC and LFB. Under their collaboration, both the costs and profits of this program will be shared between GTC and LFB. LFB will fund the final $500,000 license fee payment due to ProGenetics, LLC in the second quarter of 2008. GTC retains exclusive marketing rights in North America for recombinant factor IX and LFB will receive exclusive marketing rights in Europe with co-exclusive marketing rights in Japan.
“GTC is building a significant and valuable portfolio of recombinant plasma proteins leveraging the unique characteristics of our production technology,” stated Geoffrey F. Cox, PhD, GTC’s Chairman and CEO. “Our collaboration with LFB is a significant enablement in this process, not only in the benefits of financial support, but very importantly in the experience and expertise with plasma fractionated products which LFB brings to our collaboration. The collaboration with the factor IX program is a further important example of the value of this relationship.”
Factor IX is used to treat Type B hemophilia. The preferred treatment strategy is to prophylactically supplement the patient’s deficient factor IX to establish normal coagulation. The high cost and limited availability of the recombinant factor IX product currently on the market often relegates its use to treating acute bleeding episodes, typically in the joints, which often irreversibly harms joint function and ultimately limits mobility.
GTC previously obtained from ProGenetics an exclusive license to a number of recombinant plasma proteins, including human coagulation factor IX, for North America, Europe and Japan. ProGenetics has developed production of recombinant human factor IX in the milk of transgenic pigs. ProGenetics received $500,000 from GTC upon signing of the agreement.
About GTC Biotherapeutics
GTC Biotherapeutics develops, supplies, and commercializes therapeutic proteins produced through transgenic animal technology. In addition to the recombinant coagulation factor IX program, GTC is developing a portfolio of recombinant human plasma proteins with known therapeutic properties. These proteins include recombinant forms of human coagulation factor VIIa, factor VIII, alpha-1 antitrypsin and ATryn®, GTC’s recombinant form of human antithrombin, which has been approved for use in Europe and is nearing completion of a comparative clinical study in the United States. GTC also has a monoclonal antibody portfolio that includes a CD20 monoclonal antibody and a monoclonal antibody to CD137. GTC’s intellectual property includes a patent in the US through 2021 for the production of any therapeutic protein in the milk of any transgenic mammal. GTC’s transgenic production platform is particularly well suited to enabling cost effective development of proteins that are difficult to express in traditional recombinant production systems as well as proteins that are required in large volumes. Additional information is available on the GTC web site, http://www.gtc-bio.com.
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including without limitation statements regarding the planned development of recombinant coagulation factor IX. Such forward-looking statements are subject to a number of risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such statements. Factors that may cause such differences include, but are not limited to, the risks and uncertainties discussed in GTC's most recent Annual Report on Form 10-K and its other periodic reports filed with the Securities and Exchange Commission, including the uncertainties associated with conducting clinical studies, and the risks and uncertainties associated with dependence upon the actions of collaboration partners and regulatory agencies. GTC cautions investors not to place undue reliance on the forward-looking statements contained in this release. These statements speak only as of the date of this document, and GTC undertakes no obligation to update or revise the statements, except as may be required by law.
Source: GTC Biotherapeutics
Issuer of this News Release is solely responsible for its
Please address inquiries directly to the issuing company.