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Alpha Cancer Technologies, Inc.

Drug Names(s): recombinant alpha-fetoprotein, MM-093

Description: AFP is a carrier protein known for transporting nutrients to rapidly growing fetal cells and also an immune regulatory protein involved in the protection of the fetus from attack by the mother's immune system. AFP is expected to block the antibodes produced by myasthenia gravis and restore the transmission of nerve impulses (ACh).

Deal Structure: In July 2009, GTC Biotherapeutics obtained exclusive worldwide rights to the development and commercialization of recombinant human AFP, including the recombinant, non-glycosylated version of rhAFP known as MM-093, for the treatment of autoimmune diseases from Merrimack Pharmaceuticals.

In October 2010, GTC Biotherapeutics announced that it received a letter from LFB Biotechnologies (a subsidiary of LFB Group) indicating that LFB had approved making an offer to take GTC private for $.28 per share.

The going private transaction, as proposed by LFB, would be structured as follows: LFB would purchase approximately 61 million shares of GTC Common Stock in a private placement for $0.28 per share, or an aggregate purchase price of approximately $17 million. After completion of the proposed private placement and conversion of convertible preferred stock of GTC owned by LFB, LFB would own at least 90% of GTC's outstanding Common Stock. Following the private placement, LFB would effect...See full deal structure in Biomedtracker

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