After losing its big pharma partner, GlaxoSmithKline PLC, Amicus Therapeutics Inc. has gone on the offensive to reposition itself as a “bio-betters” developer by acquiring enzyme replacement therapy (ERT) start-up Callidus Biopharma Inc.and reorganizing its financial and corporate structure.
Amicus Repositions With A Focus On Combining Chaperones With ERTs
Biotech re-obtains all rights to migalastat from GSK, buys out ERT specialist Callidus and will raise $40 million through a private placement and a debt financing. Callidus co-founder, a former Genzyme scientist, will take over the Amicus’ scientific team, while the company slashes its overall headcount by 14%.