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news.GTC Biotherapeutics has entered into a definitive agreement with ProGenetics to obtain an exclusive license to develop and commercialize its recombinant human factor IX, recombinant human factor VIII, and recombinant human fibrinogen for North America, Europe and Japan.
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ProGenetics will receive a non-exclusive license to GTC’s patent in the US for the transgenic expression of therapeutic proteins in milk to enable the commercial development of these products outside of North America, Europe and Japan. ProGenetics received $500,000 from GTC upon signing of the agreement and will receive approximately $500,000 from GTC in the second quarter of 2008. GTC will also receive a small equity interest in ProGenetics.
ProGenetics will be responsible for the production of the proteins in the milk of their transgenic pigs. GTC will be responsible for manufacturing, clinical development, regulatory affairs, and commercialization activities in its territories.
Geoffrey Cox, chairman and CEO of GTC, said: “We are very pleased to work with ProGenetics to add factor IX, factor VIII, and fibrinogen to our portfolio of recombinant coagulation factors.”