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DewDiligence

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Re: montauper post# 6872

Thursday, 01/10/2008 8:24:34 AM

Thursday, January 10, 2008 8:24:34 AM

Post# of 19309
LFB Biotechnologies to Collaborate with GTC Biotherapeutics on Factor IX Program

[The financial terms are consistent with the rest of the LFB-GTC collaboration: a 50/50 sharing of worldwide costs and profits. What needs to be clarified is whether LFB brings anything to the table in Factor IX other than money.]

http://biz.yahoo.com/bw/080110/20080110005476.html

Thursday January 10, 8:00 am ET

FRAMINGHAM, Mass.--(BUSINESS WIRE)--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.
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