GTC Biotherapeutics (fka GTCB)

[DewDiligence]

GTC Biotherapeutics Awarded $1.4 Million in Continued SBIR Funding For CD137 Monoclonal Antibody Program

[The CD137 program had been on hold pending renewed funding.]

http://biz.yahoo.com/bw/061005/20061005005453.html?.v=1

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Thursday October 5, 8:00 am ET

FRAMINGHAM, Mass.--(BUSINESS WIRE)--GTC Biotherapeutics, Inc. ("GTC", Nasdaq: GTCB) announced today that it was awarded an additional grant of $1.4 million for its CD137 monoclonal antibody program from the Small Business Innovative Research, or SBIR, program of the National Institutes of Health. The first year committed funding is approximately $780,000. This grant will fund process development, characterization of the antibody and efficacy testing in preclinical models in anticipation of future manufacturing for clinical trials. GTC in-licensed the CD137 antibody from the Mayo Clinic and obtained initial SBIR funding in 2004. The work planned under this additional grant will be performed over two years in collaboration with Dr. Scott Strome at the University of Maryland and Dr. Lieping Chen at the Johns Hopkins School of Medicine.

"The CD137 antibody appears to have significant potential for the treatment of solid tumors and autoimmune diseases," stated Harry Meade, Ph.D., GTC's Senior Vice President of Research and Chief Scientific Officer. "We are gratified that the SBIR program recognized this potential and the further funding will enable us to continue our work in the preclinical evaluation of CD137's activity."

CD137, also known as 4-1BB, is a member of the tumor necrosis factor/nerve growth factor family of receptors and is a surface glycoprotein found on certain cells of the immune system.

The SBIR program is a source of federal government funding administered by various government agencies for domestic small business concerns to engage in research and development activities with the potential for commercial development.

About GTC Biotherapeutics, Inc.

GTC Biotherapeutics is a leader in the development, production, and commercialization of therapeutic proteins through transgenic animal technology. GTC's lead program is ATryn®, its recombinant form of human antithrombin. The European Commission has granted market authorization for the use of ATryn® in patients with a hereditary antithrombin deficiency undergoing surgical procedures. In addition to the ATryn® program, GTC's development programs include a recombinant human factor VIIa, a recombinant human alpha-1 antitrypsin, a recombinant human albumin, a CD137 antibody, and a malaria vaccine. In its external programs, GTC's technology is used to develop transgenic production of its partners' proprietary products, including both large-volume protein therapeutics as well as products that are difficult to produce in significant quantities from conventional recombinant production systems. One external program is in clinical trials with a transgenically produced product. Additional information is available on the GTC web site, http://www.gtc-bio.com.
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