By Kimberly N. Alleyne
Stroudsburg, Pa., Sept. 8 - Amicus Therapeutics announced Wednesday the closing of a $55 million series C financing.
The company intends to use the proceeds to advance its pipeline of drugs aimed at treating human genetic diseases.
Amicus' lead compound Amigal (migalastat hydrochloride) is in a Phase II clinical program for Fabry disease.
Quaker BioVentures led the financing, joined by existing investors Canaan Partners, CHL Medical Partners, Frazier Healthcare Ventures, New Enterprise Associates, Prospect Venture Partners and Radius Ventures.
Other new investors include Palo Alto Investors and the Garden State Life Sciences Venture Fund, which is funded by the New Jersey Economic Development Authority and managed by Quaker BioVentures.
In addition Sherrill Neff, managing partner of Quaker BioVentures, is joining the Amicus board of directors.
Separately, Amicus announced positive results from its Phase I clinical studies of Amigal and the start of patient enrollment in its Phase II clinical program for the treatment of Fabry disease.
Amicus Therapeutics is a biopharmaceutical company based in Cranbury, N. J., that develops small molecule, orally-active pharmacological chaperones for the treatment of human genetic diseases.
| Issuer: | Amicus Therapeutics
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| Issue: | Venture capital
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| Round: | C
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| Amount: | $55 million
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| Investors: | Quaker BioVentures (lead), Canaan Partners, CHL Medical Partners, Frazier Healthcare Ventures, New Enterprise Associates, Prospect Venture Partners and Radius Ventures
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| Announcement date: | Sept. 8
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