FRAMINGHAM, Mass.--(BUSINESS WIRE)--GTC Biotherapeutics, Inc. (“GTC”, Nasdaq: GTCB) has entered into an agreement with JCOM Co. Ltd. in the Republic of Korea to provide a license for the transgenic development of recombinant human insulin products in Asia. Under the agreement, GTC will establish the appropriate cell lines and demonstrate production over the next 12 months. JCOM has the option for exclusive marketing rights in Asia. JCOM will compensate GTC for successful development of the transgenic production system as well as a license fee. JCOM will also pay GTC a royalty on any commercial sales of the products. The agreement contemplates JCOM’s establishment of a transgenic production system for recombinant human insulin products in the Republic of Korea.
