GTC Biotherapeutics Closes $15 Million Convertible Debt Financing from LFB Biotechnologies

FRAMINGHAM, Mass.--(BUSINESS WIRE)--GTC Biotherapeutics, Inc. ("GTC", Nasdaq: GTCB) has closed on the agreement with LFB Biotechnologies for a $15 million financing in which GTC issued convertible debt and warrants to purchase shares of GTCB common stock on the terms previously disclosed. The net proceeds at closing, after transaction costs and establishment of a restricted cash account, were approximately $10 million.

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