Amicus Acquires Full Rights to Global Drug Development, Regulatory and Commercial Activities for Migalastat HCl
GSK Retains Interest through Additional Equity Investment in Amicus, and Future Milestones and Royalties
Conference Call Today at 5:00 p.m. ETCRANBURY, N.J. and LONDON, Nov. 20, 2013 (GLOBE NEWSWIRE) -- Amicus Therapeutics (Nasdaq:FOLD) and GlaxoSmithKline (GSK) today announced that Amicus has obtained global rights to develop and commercialize the investigational pharmacological chaperone migalastat HCl as a monotherapy and in combination with enzyme replacement therapy (ERT) for Fabry disease. Key Highlights of Revised Agreement:
- Amicus will have sole rights to the global drug development, regulatory and commercial activities for the next-generation Fabry ERT (migalastat HCl co-formulated with ERT) as well as migalastat HCl monotherapy.
- GSK will be eligible for future regulatory and commercial milestone payments, as well as royalty payments.
- GSK will further invest $3 million in Amicus through an equity investment in a concurrent private placement in public equity (PIPE) transaction.
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