Amicus Therapeutics is an American public biopharmaceutical firm situated in Cranbury, New Jersey. In the year 2007, the company penetrated so much into the public domain under the NASDAQ trading symbol FOLD.
While in 2006, there followed a planned offering as well as a subsequent withdrawal that would have instituted the trading symbol as AMTX. Before their IPO, the Amicus was funded by various venture capital companies such as Canaan Partners and New Enterprise Associates.
The therapeutic focal point of Amicus is on rare and orphan ailments such as the disorders referred to as lysosomal storage disorders. Amicus Therapeutics develop products that are mainly based on the Chaperone-Advanced Replacement Therapy platform as well as focused on developing of enzyme replacement therapies.
During February 2014, the firm had not market any products. It’s most superior candidate was the migalastat which was a pharmacological chaperone treatment meant for Fabry disease that aimed at stabilizing endogenous mutant alpha-galactosidase.
Amicus Therapeutics company also engaged in a group effort with GlaxoSmithKline as well as JCR Pharmaceutical in parallel with the advancement of migalastat monotherapy. The collaboration was meant to examine co-formulation with recombinant alpha-galactoside. The partnership which started in 2010, lasted for three years.
As a matter of fact, Amicus Therapeutics does not possess a manufacturing ability but rather depend on contract manufacturing only. Amicus Therapeutics expanded from a single site in New Jersey during 2008 to a second research location in San Diego (Glassdoor).
Amicus Therapeutics faced a myriad of the financial crisis in 2009 following the early termination of a long-term collaboration agreement with The Shire. During the completion, operation financing was carried through the private placement of redeemable convertible preferred stock, returns from initial public offering as well as from previous partnership agreement with The Shire. As a result, the Amicus Therapeutics embarked on a restructuring process that was meant to optimize returns while minimizing costs.
Amicus bumped into Callidus Biopharma in November 2013 as a competitor and acquired exclusive materials as well as intellectual property for enzyme replacement therapy cure of Pompe ailment.
The Chief Executive officer of Amicus Therapeutics since 2005, has been John F. Crowly. The latter succeeded Donald Hayden as the firm’s board chairman (YahooFinance).
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