- Amicus Therapeutics (FOLD) and GlaxoSmithKline (GSK) revise their migalastat HCl agreement.
- FOLD now has sole worldwide development, regulatory, and commercial rights to Fabry ERT and migalastat HCl monotherapy.
- GSK is "eligible for future regulatory and commercial milestone payments, as well as royalty payments" and, via a PIPE transaction, will invest $3M in FOLD.
- The new terms call for no upfront payment to GSK.
- Here's FOLD CEO John Crowley: "This transaction ... delivers what we believe to be immediate and significant value to our shareholders while allowing us to maintain a strong relationship with GSK, our largest shareholder." (PR)
- Also: FOLD has acquired Callidus Biopharma and says its current cash combined with future debt financing ($25M expected to close soon) should be sufficient to fund the company's "operating plan into late 2015." (PR)