Amicus Therapeutics strikes $430m strategic financing deal

<img width="250" height="167" src="https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-Amicus-Therapeutics-strieks-430m-financing-iStock-171591485-250×167.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="lab" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-Amicus-Therapeutics-strieks-430m-financing-iStock-171591485-250×167.jpg 250w, https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-Amicus-Therapeutics-strieks-430m-financing-iStock-171591485-700×467.jpg 700w, https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-Amicus-Therapeutics-strieks-430m-financing-iStock-171591485-768×512.jpg 768w, https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-Amicus-Therapeutics-strieks-430m-financing-iStock-171591485-120×80.jpg 120w, https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-Amicus-Therapeutics-strieks-430m-financing-iStock-171591485-245×163.jpg 245w, https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-Amicus-Therapeutics-strieks-430m-financing-iStock-171591485-500×333.jpg 500w, https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-Amicus-Therapeutics-strieks-430m-financing-iStock-171591485.jpg 1254w" sizes="(max-width: 250px) 100vw, 250px" /><p>This deal puts Amicus in a better position to increase its revenues and become a leading biotech in the field of rare diseases. <a href="https://www.leaprate.com/forex/institutional/blackstone-led-consortium-completes-partnership-transaction-with-thomson-reuters/" target="_blank" rel="noopener">Blackstone</a> only requires interest-only payments until late 2026, with a maturity date of October 2029.</p>
<p>Apart from debt refinancing, the money will also go towards continued operations. The President and Chief Executive Officer of Amicus Therapeutics, Bradley Campbell, said:</p>
<blockquote>
<p>This new financing with Blackstone strengthens our balance sheets and financial profile by reducing the interest rate versus our current debt, pushing out the amortization schedules 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<img src="https://s.w.org/images/core/emoji/14.0.0/72×72/2122.png" alt="™" class="wp-smiley" style="height: 1em; max-height: 1em;" /> + Opfolda<img src="https://s.w.org/images/core/emoji/14.0.0/72×72/2122.png" alt="™" class="wp-smiley" style="height: 1em; max-height: 1em;" /> as we continue on our mission to develop medicines for people living with rare diseases.</p>
</blockquote>
<p>Blackstone stated that the company strives to offer finance solutions to global leaders in biotech and pharmaceuticals as it supports mission-critical sciences. This company feels it is important to develop new medicines that target rare metabolic diseases.</p>
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<p>As a patient-dedicated enterprise focusing on the treatment of rare diseases worldwide, Amicus meets the funding requirements of Blackstone Life Sciences. The private investment platform is known for investing in the life cycle of companies and products to further research and development.</p>
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