As Amicus Therapeutics Launches Its Next-Generation Genetic Medicine Company Caritas Therapeutics, Troutman Pepper Counsels Amicus in $200M PIPE
PHILADELPHIA – Amicus Therapeutics, Inc. (Nasdaq: FOLD) plans to launch a next-generation genetic medicine company, Caritas Therapeutics, Inc., through a definitive business combination agreement pursuant to which the Amicus gene therapy business will be acquired by ARYA Sciences Acquisition Corp IV (Nasdaq: ARYD), a special purpose acquisition company (SPAC), sponsored by Perceptive Advisors.
In addition to providing certain support with regard to the spin-off of Caritas, Troutman Pepper assisted Amicus in a simultaneous $200 million private investment from a cohort of leading healthcare biotechnology investors, including Redmile Group, Avoro Capital Advisors, Perceptive Advisors, Invus, Sphera Healthcare, and Janus Henderson Investors. Amicus expects to use the net proceeds to further fund initiatives in the global commercialization of Galafold, an FDA-approved medication for Fabry disease, and the anticipated global launch of AT-GAA and, in connection with the business combination, to invest $50 million in cash in Caritas in exchange for additional equity. Read a company press release about the deal.
Amicus Therapeutics is a global, patient-dedicated biotechnology company focused on discovering, developing, and delivering novel high-quality medicines for people living with rare diseases. The mission of Caritas, the Latin word for compassion, will be to transform the lives of children and adults living with rare genetic diseases by harnessing the power of next-generation genetic medicine and gene therapy technologies through advanced protein engineering and innovative gene therapy vector technologies.
Scott Jones, Sheri Adler, Judy O’Grady, Julia Spinelli, Brad Boericke, Thomas Bright, David Kaplan, and Mark Wilhelm advised Amicus in the private investment in public equity (PIPE) and counseled Caritas in matters relating to its governance structure and benefit plans.
About Troutman Pepper
Troutman Pepper is a national law firm with more than 1,200 attorneys strategically located in 23 U.S. cities. The firm’s litigation, transactional, and regulatory practices advise a
diverse client base, from start-ups to multinational enterprises. The firm provides sophisticated legal solutions to clients’ most pressing business challenges, with depth across industry sectors, including construction, energy,
finance, health sciences, insurance, private equity, real estate, and technology, among others. Learn more at
troutman.com.