Marketing Partner Pays GTC $3M
GTC Biotherapeutics Inc. of Framingham has received a $3 million milestone payment from Illinois-based Lundbeck Inc., which is launching GTC's flagship product commercially.
GTC said it has manufactured enough ATryn and has the product support in place for its scheduled second-quarter commercial launch. Lundbeck will make an additional $1 million payment for the actual inventory.
ATryn is a protein-based drug that prevents blood clots in major surgery patients. GTC developed the protein used in ATryn in the milk of genetically modified goats.
Lundbeck acquired long-time GTC partner Ovation Pharmaceuticals Inc. earlier this month.
The U.S. Food and Drug Administration approved ATryn for use in February, triggering the $3 million milestone payment.
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