GTC Biotherapeutics grants exclusive fibrinogen license to Pharming

By Mass High Tech Staff

GTC receives second delisting notice [June 22, 2009]

GTC shutters ATryn development contract for some countries [March 16, 2009]

GTC pockets $1M milestone pay [March 9, 2009]

GTC partners with New Zealand firm on transgenics [February 26, 2009]

Framingham biotech GTC Biotherapeutics Inc. has announced its exclusive license offer to Pharming Group NV for its recombinant fibrinogen in Europe, North America and Japan. Under terms of the license agreement, GTC Biotherapeutics (Nasdaq: GTCB) is entitled to an initial $550,000 payment, as well as commercial sales royalties, according to company officials.

Fibrinogen is a protein made in the liver that could develop into blood clots.

GTC had an exclusive license from ProGenetics LLC for fibrinogen for North America, Europe and Japan.

Earlier this week, GTC reported a development and marketing agreement with Ovation Pharmaceuticals worth up to $275 million.

GTC, which supplies and develops protein therapies produced in the milk of transgenic animals, announced earlier this week a development and marketing agreement with Ovation Pharmaceuticals worth up to $275 million.

The biotech firm employs 156 workers and reported a 2007 net loss of $36.3 million on revenue of $13.9 million.

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