John Crowley, Amicus chairman and CEO

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.

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