December 5, 2007
GTC In Milk Pact With Va. Co.
By Matthew L. Brown
Framingham-based GTC Biotherapeutics Inc. said it would spend $1 million on an exclusive license to develop and commercialize a blood coagulant developed by Virginia-based ProGenetics LLC.
ProGenetics is developing the blood coagulant in the milk of genetically modified pigs. It would be used to treat hemophilia. GTC is developing an anti-blood clot protein produced in the mild of genetically modified goats.
As part of the deal, GTC will get a small equity interest in ProGenetics and Progenetics will get a non-exclusive license to GTC's U.S. patent for the transgenic expression of therapeutic proteins in milk.
GTC will pay ProGenetics $500,000 when the deal is signed and another $500,000 in the second quarter of 2008.
ProGenetics is developing the blood coagulant in the milk of genetically modified pigs. It would be used to treat hemophilia. GTC is developing an anti-blood clot protein produced in the mild of genetically modified goats.
As part of the deal, GTC will get a small equity interest in ProGenetics and Progenetics will get a non-exclusive license to GTC's U.S. patent for the transgenic expression of therapeutic proteins in milk.
GTC will pay ProGenetics $500,000 when the deal is signed and another $500,000 in the second quarter of 2008.
WBJ Web Partners
Most Recent
Most Recent
0 Comments