ARTICLE | Company News

LFB to acquire GTC

November 9, 2010 1:15 AM UTC

GTC Biotherapeutics Inc. (OTCBB:GTCB) said partner LFB S.A. (Les Ulis, France) agreed to take GTC private for $0.30 per share, or about $21 million. The price is a 7% premium to GTC's close of $0.28 on Friday, before the deal was announced, and is above the $0.28 per share price that LFB proposed last month. 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. ...