Secondly, we have a new division of responsibilities as a result of this extended collaboration. Amicus will now have responsibility for all commercial operations relative to all of these Fabry products – so the monotherapy use of migalastat, the use of migalastat in combination with other existing ERTs as well as the sales and marketing of this future proprietary ERT as it hopefully makes its way through the clinic. And then the third component and further strengthening our relationship with GSK – GSK is increasing its ownership in Amicus to 19.9% and purchasing 2.95 million shares of our common stock at a premium to today’s market close. They’ll be purchasing that at $6.30 for a total investment of a little over $18.5 million.

So those are the three components and I’ll comment just briefly now on the rationale from Amicus’ perspective and some of the history of how this came to be. I’ll take you first to our vision and one that I reiterated earlier this year at the JP Morgan conference, and that’s that Amicus would be a company at the forefront of rare and orphan diseases and very significantly utilizing our core platform technology including the extension of that along a continuum of innovation, taking our molecules from small molecule monotherapy as we already have now in advanced development in Fabry disease; looking for co-administration therapies but also very, very aggressively developing that technology co-formulated with enzyme replacement therapy. And David will share more of the scientific rationale for that.

But it fits very much in with our business-led, science-driven motto here at Amicus, and it is in line, too, with the vision that I articulated and we have continued to articulate throughout this year that our long-term vision in building Amicus is to be fully integrated by a pharmaceutical company in the rare diseases. And with this, this now allows us to begin preparing for the commercial launch of our products in Fabry disease as they hopefully make their way through the clinic, leading of course with our 011 study, our monotherapy study which remains on track for data delivery here in Q3.

Read the rest of this transcript for free on seekingalpha.com

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