Amicus Therapeutics, Inc. (NASDAQ: FOLD) has confirmed that the group has ambitious plans to launch Caritas Therapeutics, Inc. The group introduces the new company it plans to launch as a genetic medicine company.
The next-generation company will be launched through an acquisition process
A combination of business agreements and a series of acquisitions will result in the launch of Caritas Therapeutics, Inc. First, through a business deal, the Amicus gene therapy business will be taken over by ARYA Sciences Acquisition IV Corp (NASDAQ: ARYD). It has come to light that ARYA Sciences Acquisition IV Corp is a SPAC, and Perceptive Advisors are its sponsors. As a result of the financial transaction, two individual publicly traded companies will come into being. Furthermore, both the independent companies will be treated as separate investment profiles. Amicus Therapeutics, Inc., with a 36% ownership, will automatically become the biggest shareholder in Caritas Therapeutics, Inc.
Once operational, the Chairman and Chief Executive Officer of Amicus Therapeutics, Inc. will serve as Chairman and Chief Executive Officer of Caritas Therapeutics, Inc.
Sources aware of the developments share that once the new company, Caritas Therapeutics, Inc., is operational, the Chairman and Chief Executive Officer of Amicus Therapeutics, Inc., John F. Crowley, will take the lead and serve as Chairman and Chief Executive Officer. In addition, Crowley will assume the position of Chairman Emeritus and Chief Strategic Advisor of Amicus Therapeutics, Inc. Meanwhile, the present President and Chief Operating Officer of Amicus Therapeutics, Inc., Bradley Campbell, will serve as Chief Executive Officer of the group.
Amicus Therapeutics, Inc. has a new drug application accepted for review
Amicus Therapeutics, Inc. has one more reason to be happy about and celebrate. One of the latest developments related to the company is that the U.S. Food and Drug Administration (FDA) has received and further accepted to review the Biologics License Application (BLA) recently filed by the group. The BLA is for a new drug application. The group is performing research and is investigating two components that can be used to treat Pompe disease.