Amicus Therapeutics, Inc.NASDAQ
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  • Aug. 31, 2015, 7:14 AM
    • Amicus Therapeutics (NASDAQ:FOLD) acquires privately-held Scioderm for $229M in cash and stock plus milestones. Under the terms of the deal, Amicus will pay $125M in cash and $104M in FOLD stock via the issuance of 7M newly issued shares. In addition, it will pay up to $361M in cash or stock upon the achievement of certain clinical and regulatory milestones and up to $257M in cash or stock upon the achievement of certain sales-based milestones. The transaction should close this quarter.
    • Scioderm's lead product candidate is Phase 3-stage Zorblista, a topical cream for the treatment of epidermolysis bullosa (EB), a group of rare diseases that cause the skin to blister. The incidence rate in the U.S. is 6.5 per million newborns.
    • EB qualifies as a rare pediatric disease so if Zorblista is approved, Amicus will request a Priority Review Voucher. If it is granted and subsequently sold, 
      Amicus will pay Scioderm shareholders the lesser of $100M or 50% of the proceeds from the sale.
    • Amicus will host a conference call this morning at 8:00 am ET to discuss the deal.
    | Aug. 31, 2015, 7:14 AM | 3 Comments