In an­tic­i­pa­tion of PhI­II tri­al re­sults, Am­i­cus pares down old debt with $400 mil­lion loan

Am­i­cus re­ceived a healthy heap­ing of good news last month when an­a­lysts threw cold wa­ter on Sanofi’s late-on­set Pompe dis­ease ERT, af­ter a Phase III study es­sen­tial­ly cleared the way for Am­i­cus’ com­pet­ing can­di­date to be the stan­dard-bear­er. Now, Am­i­cus is prepar­ing for a new “path to prof­itabil­i­ty” with an ex­pect­ed wind­fall.

The New Jer­sey-based bio­phar­ma an­nounced to­day it is re­fi­nanc­ing debt to the tune of a $400 mil­lion loan from Hayfin Cap­i­tal Man­age­ment. Am­i­cus will uti­lize the cred­it, which is ex­pect­ed to be fund­ed in full on or about Au­gust 4, to re­fi­nance ex­ist­ing debt and for oth­er de­vel­op­ment pur­pos­es.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER