rEVO Biologics, formerly GTC Biotherapeutics, Inc until the company merged with LFB Biotechnologies in January 2013 and changes its name, is engaged in the development, production and commercialization of therapeutic proteins in the milk of transgenic animals. The genetic material expressing the therapeutic protein is introduced into the genome of an embryo to produce the desired transgenic animal. The Company focuses on using transgenic technology to establish commercial production systems for products that are anticipated to require large production volume or are difficult to express in traditional bioreactor-based recombinant production systems. Its technology platform is being used to create internal and external product programs. Internal programs exploit its own proprietary proteins and contribute to obtaining regulatory and market approval for products produced transgenically. External program business area uses its intellectual property and technology platform to develop transgenic production of a partner's proprietary protein. During 2009-2010, GTC Biotherapeutics Inc has seen its operational funds dwindle and several employees laid off earlier this year. INOctober 2010, the firm received an offer from French strategic partner LFB Biotechnologies to take GTC private. The $17 million purchase price would give LFB at least 90 percent ownership of GTCs outstanding common stock. The GTC (OTCBB: GTCB) board of directors has formed an independent committee of directors to review and negotiate the private placement offer. GTC develops drug candidates using genetic materials derived from animals. It has a research program that employs goats to produce milk carrying a protein for use as part of potential treatments for autoimmune diseases including multiple sclerosis Including staff layoffs, restructuring news also included a shuffle in several senior management position
