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Amicus Therapeutics starts $150M offering to fund gene therapy pipeline

Amicus Therapeutics Inc. said it started a common stock offering to raise $150 million.

Net proceeds will go toward development of the company's expanded gene therapy pipeline and manufacturing capabilities for Pompe biologic AT-GAA and gene therapy product candidates, including contract manufacturing partnerships.

A portion of the proceeds is also allotted for the completion of the design and build of the Amicus process science and gene therapy manufacturing facility, as well as for other general corporate and product development purposes.

Underwriters will have an option to buy up to an additional 15% of the common shares being offered in the transaction.

Cranbury, N.J.-based Amicus Therapeutics discovers and develops medicine for rare metabolic diseases.

J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC and SVB Leerink LLC are acting as joint book-running managers in the offering.