Amicus Therapeutics Operations and History

Amicus Therapeutics is an American firm based in Cranbury, New Jersey. It is one of the major bio-pharmaceutical companies and is renowned in America. It was declared public in the year 2007 under the symbol of trade FOLD. This was after the previous symbol AMTX suggestion which was withdrawn in the year 2006. Well, a known number of venture capital companies funded Amicus such as Canaan Partners, New Enterprise Associates, and Radius Ventures.

 

Their main focus is on rare and orphan health conditions specifically those termed as lysosomal storage disorders. The firm’s product improvement is highly concentrated in the CHART® (Chaperone-Advanced Replacement Therapy). This portfolio has its main interests in the improvement of therapies dealing with the replacement of enzymes. In the year 2014, Amicus was listed as the largest platform working on small molecule pharmacological chaperones in the field of pharmaceuticals (https://seekingalpha.com/article/4073303-amicus-therapeutics-small-biotech-seems-big-mo).

 

Amicus Therapeutics does not have an ability of its own in manufacturing, so it relies on contract manufacturing instead. In the year 2008, the firm made wide its single premises based in New Jersey to a second location based in San Diego. Before 2010, the firm started facing a great financial problem causing a major halt of a multi-years collaboration agreeing with Shire. During the time of halt, the financial procedures were executed primarily and were made through a private placing of convertible stock.

 

In the year 2010, the firm received a total amount of 500,000 dollars from The Michael J. Fox Foundation. These funds were to help him go on supporting studies that took place in David Geffen School of Medicine based at UCLA. The company later received 210,300 dollars from the Alzheimer’s Drug Discovery Foundation. The grants enabled Amicus Therapeutics to support Icahn School of Medicine based at Mount Sinai. All this was conducted through the Alzheimer’s disease Research Center to help tasks related to pre-clinical works.

 

In 2013, Amicus Therapeutics challenged Callidus Biopharma, which became their competitor in the treatment of enzyme replacement therapy for Pompe disease. In 2015, Amicus then acquired scioderm; a rare disease firm focused on the development of treatment for Epidermolysis Bullosa, EB for up to a total of 947 million dollars in both stock and cash. To date, Amicus Therapeutics has made available treatment affordable to EB patients.