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news.Glaxo Group Limited (GSK) and Amicus Therapeutics have expanded their partnership to develop and commercialise the investigational pharmacological chaperone migalastat HCl for Fabry disease.
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The expanded alliance comprises three components co-development of present and future formulations of migalastat HCl for Fabry disease, commercialisation arrangements for all future Fabry products and increased GSK ownership in Amicus with an $18.6m investment in common stock priced at $6.30 per share, bringing GSK’s total ownership stake in Amicus to 19.9%.
The GSK corporate executive team member and GSK Rare Diseases global head Marc Dunoyer said, "Amicus has a very successful track record as our development partner and long-standing relationships with the Fabry community and we look forward to their leadership in the US commercialisation of several potential new medicines for patients with Fabry disease."
As per the agreement, Amicus will have commercial rights to all Fabry products in the US and GSK will commercialise all products in the rest of world.
Amicus chairman and chief executive officer John Crowley said, "Through our expanded agreement, GSK is increasing its investment in the Fabry development programme and Amicus is transforming into a commercial-stage biopharmaceutical company within the US Amicus is leveraging its chaperone-ERT platform to advance migalastat HCl in multiple potential uses for patients with Fabry disease."