FRAMINGHAM, Mass.--(BUSINESS WIRE)--GTC Biotherapeutics, Inc. ("GTC", Nasdaq: GTCB) has notified LEO Pharma A/S that GTC is terminating their contract for commercialization and development of ATryn®, GTC’s recombinant form of human antithrombin, in the territories of Europe, Canada and the Middle East. GTC considers LEO to be in breach of its obligations under the contract and is terminating the contract pursuant to its terms and seeking damages under International Chamber of Commerce (ICC) arbitration procedures. GTC has taken this step to provide it a pathway to accelerate and expand progress in Europe, Canada, and the Middle East for both commercialization and further clinical development of ATryn.
