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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