ARTICLE | Company News

GTC Biotherapeutics, Laboratoire francais deal

November 15, 2010 8:00 AM UTC

LFB will acquire and take private partner GTC for $0.30 per share, or about $21 million. The price is a 7% premium to GTC's close of $0.28 on Nov. 5, before the deal was announced and is above LFB's initial proposed price of $0.28 per share last month. The deal includes the sale of about 61.1 million GTC shares to LFB in a private placement followed by a short-form merger in which LFB will cash out all minority shareholders for the same price.

GTC markets ATryn, a recombinant antithrombin, in the U.S. to prevent peri-operative and peri-partum thromboembolic events in patients with hereditary antithrombin deficiency. GTC also has a preclinical Factor VIIa program for hemophilia partnered with LFB. LFB markets Hemoleven, a plasma Factor XI concentrate, to treat hemophilia (see BioCentury, Oct. 25). ...