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3 Next-Generation Enzyme Replacement Therapies (ERTs) Expected to Enter Clinic in Next 3 Years, Beginning in 2014 FY14 Cash Spend Guidance of $54-$59 Million — Current Cash Expected to Fund Operations Into 2H15
CRANBURY, N.J., Jan. 13, 2014 (GLOBE NEWSWIRE) -- Amicus Therapeutics (Nasdaq:FOLD), a biopharmaceutical company at the forefront of therapies for rare and orphan diseases, today provided its full-year 2014 strategic outlook and financial guidance. John F. Crowley, Chairman and CEO of Amicus, will discuss Amicus' corporate objectives and key milestones in a presentation at the 32nd Annual J.P. Morgan Healthcare Conference on Thursday, January 16, 2014 at 11:30 a.m. PT (2:30 p.m. ET). A live webcast of the presentation can be accessed through the Investors section of the Amicus Therapeutics corporate web site at
http://ir.amicustherapeutics.com/events.cfm, and will be archived for 90 days.
Amicus announces "3-in-3" strategy for three next-generation Enzyme Replacement Therapies (ERTs) expected to enter the clinic in next three years with lead programs in Fabry, Pompe and Mucopolysaccharidosis I (MPS I)
Preclinical proof-of-concept data for next-generation ERTs for Fabry and Pompe to be featured at Lysosomal Disease Network WORLD Symposium and American College of Medical Genetics (ACMG) meetings in 1H14
Data from global registration studies of migalastat HCl monotherapy for Fabry disease expected to include complete 12- and 24-month data from Study 011 in 2Q14 and 18-month clinical data from Study 012 in 2H14
Current cash projected to fund operating plan into 2H15
John F. Crowley, Chairman and Chief Executive Officer of Amicus Therapeutics, Inc., stated, "As we enter 2014, Amicus is strongly positioned to continue our focus on advancing a pipeline of next-generation enzyme replacement therapies for patients with lysosomal storage diseases. There continues to be significant unmet medical needs in how we treat these diseases today. We believe that our CHART platform together with our Callidus technology provide a unique tool set to enhance enzyme activity, increase enzyme uptake into tissues, and potentially address the tolerability and immunogenicity associated with current ERTs. With the strengthening of our biologics business strategy, we are introducing the Amicus 3-in-3 strategy: advancing three next-generation ERTs into the clinic in the next three years."