FRAMINGHAM, Mass., Jan. 3, 2013 /PRNewswire/ -- GTC Biotherapeutics announced today that it has changed its name to rEVO Biologics. The name change reflects the recent commercial growth of the company, and better aligns with the company's business strategy of evolving recombinant medicine for the treatment of rare diseases.
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"Our company is taking a revolutionary approach to the development of recombinant therapies, as evidenced by our lead product ATryn® Antithrombin (Recombinant) and its remarkable growth over the past year," stated rEVO Biologics President Yann Echelard, Ph.D. "With this change, our name now reflects that core strength. Our rPRO Technology enables us to maintain all of the advantages that recombinant science offers, but through an entirely different approach. The result is better efficiency, better scalability, better cost control and ultimately better patient access to these innovative therapies."
ATryn® Antithrombin (Recombinant) is the first and only recombinant antithrombin concentrate, and is currently the fastest-growing antithrombin product with market share that has tripled in the last 12 months.
The original GTC Biotherapeutics name dates back to when the company was Genzyme Transgenics Corporation, and a spinoff of Genzyme Corporation. Today, the company is a subsidiary of LFB Biotechnologies S.A., a leading European-based biopharmaceutical group. rEVO Biologics corporate offices are in Framingham, MA, with protein production facilities in Charlton, MA.
About rEVO Biologics
rEVO Biologics is a rare disease company focused on developing and delivering first- and next-generation therapeutics that are more cost effective to produce than traditional recombinant therapies. Through its proprietary rPRO Technology platform -- a scalable, transgenic, and cost-effective method of protein production -- rEVO Biologics is bringing safe and reliable therapeutic proteins to address critical medical needs. The company's lead product, ATryn® Antithrombin (Recombinant), is the first and only plasma-free antithrombin concentrate. ATryn received FDA approval in 2009. The company has a number of products in its pipeline and in clinical trials in the areas of hematology, oncology, genetic disorders and autoimmune disease, and is actively seeking additional indications for its lead product.
LFB Biotechnologies S.A. is a wholly-owned subsidiary of LFB S.A, a biopharmaceutical group that develops, manufactures and markets medicinal products for the treatment of serious and often rare diseases in several major therapeutic fields, including Hemostasis, Immunology and Intensive Care. The LFB Group is the leading manufacturer of plasma-derived medicinal products in France and 6th worldwide and is also among the leading European companies for the development of new-generation medicinal products based on biotechnologies. The LFB Group is pursuing a growth strategy that seeks to extend its activities at the international level and develop innovative therapies. To that end, the LFB Group currently markets its products in 20 countries around the world with a global turnover of euro 432 millions in 2011.
CONTACT: Holly Grimshaw
SOURCE rEVO Biologics