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Biotech / Medical : GTC Biotherapeutics
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To: rkrw who wrote (118)6/23/2008 8:10:56 AM
From: rkrw  Read Replies (1) of 135
 
Just in time for the ASM. Not sure its the deal gtc s/h were hoping for but very back end loaded.

GTC Biotherapeutics Enters into $257 Million Agreement With OVATION Pharmaceuticals to Develop and Market ATryn(R) In The U.S.
Monday June 23, 8:00 am ET

FRAMINGHAM, Mass.--(BUSINESS WIRE)--GTC Biotherapeutics, Inc. ("GTC", Nasdaq: GTCB) and OVATION Pharmaceuticals, Inc. (“OVATION”) have entered into a collaboration agreement to develop and market ATryn® in the United States. ATryn® is GTC’s recombinant form of human antithrombin, a plasma protein with anticoagulant and anti-inflammatory properties. The agreement includes $257 million in potential payments to GTC for meeting clinical, regulatory, and sales milestones. The collaboration includes development and commercialization of ATryn® in the hereditary antithrombin deficiency, or HD, indication. The milestone payments include a total of $9 million through approval of ATryn® for HD in the U.S., including $3 million paid upon closing and an additional $2 million expected to be received in 2008. The collaboration also plans for further development in larger market acquired antithrombin deficiencies such as the treatment of heparin resistance in patients undergoing surgery requiring cardiopulmonary bypass and the treatment of disseminated intravascular coagulation associated with severe sepsis.
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