Amicus Therapeutics went public in the year 2007. Before that, it was sourcing its funding from a variety of Venture Capital firms. The company was founded on February 4th, in the year 2002. It’s located in the State of New Jersey.
The company mainly has developed a focus revolving around lysosomal storage disorders and other rare orphan diseases. The company mainly develops its pharmaceutical products based on Chaperone-Advanced Replacement Therapy commonly known as CHART. It has also focused on coming up with Enzyme Replacement Therapies (ERTs). Interesting to note, in the year 2014, the company, Amicus bio-pharmaceuticals was considered as being in possession of a wide range of small molecule pharmacological chaperones among the pharmaceutical industries.
For instance, the company had sold a pharmacological chaperone treatment for Fabry Disease commonly known as migalastat which used the trade name of Galafold. The drug mainly is used to make endogenous mutant alpha-galactosidase stable. Amicus Therapeutics has also partnered with other pharmaceutical companies such as GlaxoSmithKline (gsK) and JCR Pharmaceutical from the year 2010 to 2013 to research and deeply study about the co-formulation with recombinant alpha-galactosidase.
Amicus Therapeutics encountered financial challenges in the year 2009 when one of its funding partner, Shire, ended a contract. After that, Amicus Therapeutics faced significant setbacks although it managed to survive by all means necessary using funds from the initial contract with Shire. The firm was also forced to lay off some of the workers. For instance, about 20 percent of the total workforce was reduced.
In the year 2013, Amicus Therapeutics successfully purchased Callidus Biopharma which was mainly focused on developing therapy treatment for Pompe disease. Callidus Biopharma was the main competitor of Amicus Therapeutics. The purchase meant that proprietary materials and intellectual property of Callidus bio pharma now belonged to Amicus therapeutics.
The CEO of the company has been John F. Crowley since the year. Through his exquisite managerial skills, he has been able to lead the firm through financial challenges. Amicus Therapeutics has been able to grow exponentially over the years. Its specialty in chaperone related therapeutics has made the firm earn recognition.