Amicus Therapeutics Acquires Celenex for its Ten Gene Therapy Programs

Shots:

• Celenex (a Nationwide Children Hospital spin out) to receive an upfront of $100M cash, development milestones up to $15M, and may be eligible for up to $75M tiered sales ($500M /$750M) milestone payments with no royalties, $262M for BLA/MAA submission and approval milestones across multiple programs
• Amicus will not pay >$75M over the next 4 years in these milestones. The acquisition and related development costs of the programs will be funded by Biopharma Credit PLC providing $150M debt facility
• The lead programs in CLN6, CLN3, and CLN8 for Batten disease will support AAV vector developed by Nationwide Children Hospital in CNS genetic disease

Click here to read full press release/ article | Ref: Amicus Therapeutics | Image: Reuters