Amicus To Acquire Scioderm - Quick Facts

(RTTNews) - Amicus Therapeutics (FOLD) and Scioderm, Inc. a privately-held biopharmaceutical company focused on developing therapies for treating diseases with high unmet need, have signed a definitive agreement under which Amicus will acquire 100% of the capital stock of Scioderm, Inc.

Scioderm's lead product candidate Zorblisa is a late-stage, topical cream and potential first-to-market therapy for Epidermolysis Bullosa. Zorblisa is currently being investigated in a Phase 3 study to support global regulatory approvals. Zorblisa was one of the first products to receive FDA breakthrough therapy designation in 2013.

Amicus will pay Scioderm shareholders $229 million, of which $125 million will be paid in cash and $104 million will be paid through the issuance of 7 million newly issued Amicus shares. Amicus has agreed to pay up to an additional $361 million to Scioderm shareholders in cash or stock upon achievement of certain clinical and regulatory milestones and $257 million to Scioderm shareholders in cash or stock upon achievement of certain sales milestones.