Amicus Therapeutics is a biotechnology corporation that concentrates on research on development and treatment of genetic diseases through mutating proteins. Recently its focus shifted more towards the development of Enzyme Replacement Therapies (ERTs). The most successful product launched; Migalastat is a treatment of Fabry disease which stabilizes mutant alpha Galactosidase. The company partnered with other organizations such GlaxoSmithKline for three years to research on recombinant alpha Galactosidase.The Company current location is in Cranbury, New Jersey. Learn more about Amicus Therapeutics at Seeking Alpha.
The company received numerous grants which fanned its growth. In 2010 the company acquired $500,000grant from Michael J Fox foundation partnering with David Geffen School of Medicine at UCLA, to support research and development. In the same year, it received a grant from Alzheimer’s Drug Discovery Foundation of $210,000 to collaborate with Icahn School of Medicine at Mount Sinai through Alzheimer Disease Research Centre. The company in 2013 acquired Callidus Biopharma, therefore, obtaining the intellectual property for enzyme replacement procedure for treatment of Pompe disease. Follow Amicus Therapeutics on twitter.com.
John F Crowley took over leadership of the organization in 2005 and succeeded Donald Hyden jr as the company’s board chairman. The company went public in 2007 with NASDAD as the trading symbol FOLD. Before the IPO the organization funds were from venture capital firms such as radius ventures and Canaan partners. With the current stock numbers, the company is on the rise. It currently trades with a capitalization of $2.42 billion. Their balance sheets indicate that the companys cash at hand is $37.74 million this is sustainable considering the cash flow within the last 12 months. With the stability in the investment base the earnings of the company are projected to grow by 80.62%.with the movements of the stock, their stock is on a robust related transaction volume.
The organization banks on scientists with enthusiasm dedicated to finding solutions for patients suffering from rare diseases, through biotechnology.