GTC Biotherapeutics, Inc. ("GTC") has obtained licenses to transgenic cattle technology and nuclear transfer technology from Pharming Group N.V. ("Pharming") for an up-front payment of 1.5 million euros, or approximately $1.4 million. GTC has also granted rights to its monoclonal antibody technology to Pharming, under certain conditions and for certain territories.

"These license agreements allow both companies to broaden their capabilities in transgenic technology and to further their product development goals without compromising each company's strategic independence," stated Geoffrey F. Cox, GTC's chairman, president and CEO.

GTC continues to develop recombinant human serum albumin (rhSA) in transgenic cattle, which is partly based on an earlier license from Pharming. Any additional products developed by GTC under the new broader cattle technology license will have a lower royalty payment to Pharming than the royalty for developing rhSA. Pharming will pay a royalty to GTC for any proprietary antibody programs developed under the cross-license agreement. The nuclear transfer license from Pharming broadens GTC's intellectual property in this technology. GTC does not expect the up-front license payments to change its outlook regarding its use of a total of approximately $30 million in cash this year.