GlaxoSmithKline to invest additional $18.6million equity investment
in the Amicus Therapeutics (NASDAQ: FOLD) for its experimental therapy for Fabry
disease, bringing GSK’s total ownership stake to 19.9 percent. They invested
$60millon in cash in 2010.
Amicus will commercialize the drug (Migalastat HCL),
currently in Phase II and III trials, in the U.S. and GSK will handle marketing
in the rest of the world.
Fabry disease, estimated to affect 5,000 to 10,000 people
worldwide, is caused by an enzyme deficiency and lists various symptoms –
including kidney failure and increased risk of heart disorders.
Migalastat HCl is now in two late-stage studies for
Fabry disease, with pivotal data expected in the third quarter.
Three Studies underway for NASDAQ: FOLD
Sources: Amiscus Theraputics, Reuters, FierceBiotech
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