GTC Biotherapeutics announces changes in board - Published on 10/01/2009
FRAMINGHAM, MA – October 1, 2009 -- GTC Biotherapeutics, Inc.’s ("GTC", NASDAQ: GTCB) has appointed Evelyne Nguyen, Jean-François Prost M.D., Bertrand Merot, and William Heiden as directors.
These directors were nominated by LFB Biotechnologies in accordance with its right under GTC’s funding agreements to appoint a number of directors commensurate with LFB’s ownership of GTC. To accommodate LFB’s plan not to increase the size of the GTC Board, Robert Baldridge, Kenneth Bauer M.D., Mary Ann Gray and Marvin Miller resigned as directors.
“We are very grateful for the contributions of Bob Baldridge, Ken Bauer, Mary Ann Gray, and Marv Miller as GTC has navigated through difficult economic markets while obtaining historic approvals for our ATryn® product,” stated Geoffrey F. Cox, Ph.D., GTC’s Chairman and Chief Executive Officer. “We welcome the experience of our new directors in the development, manufacture and marketing of human coagulation factors – a key part of our business – and we look forward to working closely with them as GTC moves forward with the development of the products in our LFB joint venture and advances our ATryn product and other pipeline opportunities with other partners . ”
Dr. Prost is Director of Scientific and Medical Operations for LFB S.A, Ms. Nguyen is Director of Financial Affairs and Strategy for LFB S.A., and Mr. Merot is Chief Operating Officer of LFB Biotechnologies. Mr. Heiden is an outside director of LFB Biotechnologies and has had international experience as a senior executive in several life sciences companies, including Schering Plough and most recently as Chairman & CEO of Elixir Pharmaceuticals Inc.