Framingham Firm In Korea Sales Pact
GTC Biotherapeutics Inc. of Framingham has entered into a licensing agreement with a Korean drug company that intends to create a transgenic production system for human insulin.
Under the agreement, GTC will establish the cell lines necessary for JCOM Co. Inc. of Korea to produce recombinant human insulin. JCOM, which specializes in cloning and stem cell research, will have exclusive marketing rights for the product in Asia. JCOM will compensate GTC for the development of the transgenic system.
JCOM will also pay GTC a royalty on any commercial sales of the new products.
GTC received U.S. Food and Drug Administration for its flagship product ATryn last week. ATryn is a protein based treatment for blood clots. The protein is produced in the milk of genetically modified goats.
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