Framingham Pharma Firm Changes Name
Framingham-based GTC Biotherapeutics Inc. has changed its name to rEVO Biotherapeutics, it announced.
The company said the new name better reflects its recent commercial growth and better aligns with its strategy of evolving recombinant medicine for the treatment of rare diseases.
The company's lead product is Atryn Antithrombin, an anti-clotting treatment approved by the FDA in 2009. The drug, which was created by extracting a human protein from the milk of genetically engineered goats, is meant to prevent dangerous blood clots in patients with a hereditary deficiency of antithrombin when they're undergoing surgery or giving birth.
The drug's market share has tripled in the past year, according to the company.
The GTC name dates back to when the company was called Genzyme Transgenics Corp. a spinoff of Genzyme Corp. GTC, formerly a public company, was acquired by Europe-based LFB Biotechnologies S.A. for $18.3 million in late 2010.
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