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Amicus, Blackstone Enter $430M Strategic Financing Collaboration

Blackstone Life Sciences and Blackstone Credit to provide a $400 million term loan and a $30 million strategic investment in Amicus.

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By: Kristin Brooks

Managing Editor, Contract Pharma

Amicus Therapeutics, Inc., a global biotechnology company focused on developing medicines for rare diseases, has entered into a definitive agreement for a $430 million financing collaboration with funds managed by Blackstone. Blackstone Life Sciences and Blackstone Credit have agreed to provide Amicus with a $400 million term loan facilitating a refinancing of existing debt and a $30 million strategic investment in Amicus.
 
Bradley Campbell, President and Chief Executive Officer of Amicus Therapeutics, said, “This new financing with Blackstone strengthens our balance sheet and financial profile by reducing the interest rate versus our current debt, pushing out the amortization schedule and extending the amortization period. This strategic investment demonstrates Blackstone’s commitment to Amicus’ future and belief in the strong growth potential of Galafold and Pombiliti + Opfolda as we continue on our mission to develop medicines for people living with rare diseases.”

Amicus Therapeutics recently received approval from the U.S. FDA for Pombiliti (cipaglucosidase alfa-atga) + Opfolda (miglustat) 65mg capsules. This two-component therapy is indicated for adults with late-onset Pompe disease (LOPD) who are not improving on their current enzyme replacement therapy (ERT). 

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