March 9, 2009
GTC Receives $1M Payment From Marketing Partner
By Matthew L. Brown
GTC Biotherapeutics Inc. has received a $1 million milestone payment from its U.S. partner for the commercialization and development of its flagship product.
The Framingham-based company said Ovation Pharmaceuticals Inc. was prompted to make the payment by a U.S. Food and Drug Administration committee's January recommendation that GTC's ATryn be approved. GTC expects a total of $3 million in milestone payments from Ovation upon ATryn's full FDA approval.
ATryn is an anti-clotting drug based on a protein developed by GTC in the milk of genetically modified goats.
Deerfield, Ill.-based Ovation expects to begin marketing ATryn in the U.S. in the second quarter.
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