Amicus Therapeutics (FOLD) announced a strengthening of its biologics business strategy. Amicus has acquired Callidus Biopharma, a privately-held biologics company focused on developing best-in-class enzyme replacement therapies for lysosomal storage diseases. Under terms of the agreement, Callidus shareholders will receive $15M in shares of Amicus common stock; up to $10M in milestone payments through Phase 2 development of the Pompe program; and up to $105M for the achievement of late-stage development, regulatory, and approval milestones spread across three products. Also, Amicus has secured approximately $40M in equity and expected debt financing. $15M was raised in a private placement of 7.5M shares of common stock priced at $2.00 per share, plus the issuance of warrants to purchase an additional 1.6M shares at $2.50/share, with a one-year term exercisable between July 1, 2014 and June 30, 2015. Participants were Redmile Group and GSK (GSK). $25M in debt financing expected to close in coming weeks, at a cost of capital of less than 10%, with no warrant coverage. The company projects that the current cash position, including the proceeds from the private placement and debt financings, are sufficient to fund operations into late 2015.