Glaxo inks $231M pact for Ph3 Amicus drug

Almost a year to the day after Shire dumped its collaboration with Amicus Therapeutics on Amigal and two other programs, triggering a restructuring that claimed 20 percent of the company's staff, the Cranbury, NJ-based developer announced that GlaxoSmithKline ($GSK) was partnering on the lead program with a $30 million upfront and $170 million in milestones. And GSK made a $31 million equity investment in the biotech company, grabbing a 19.9 percent stake. The deal marks GlaxoSmithKline's growing interest in rare diseases. Amigal is in Phase III for Fabry's disease, a rare neurological condition. CEO John Crowley called the pact a "transformational event for Amicus." Amicus release

Suggested Articles

Almirall and Iktos will use the latter's AI technology to design new compounds that tick multiple drug criteria boxes.

Pfizer’s 2017 spinout company SpringWorks has lost president and founder Lara Sullivan, M.D., who has moved over to Pyxis Oncology as its new chief.

In this week's EuroBiotech Report, Sanofi inks $2.5B Synthorx takeover and posts sutimlimab data, Roche shares bispecific results and more.