March 3, 2010 (FinancialWire) — Amicus Therapeutics (NASDAQ: FOLD) has closed a registered direct offering of 4.95 million shares of its common stock and warrants to purchase 1.85 million shares of its common stock to a group of institutional investors.

The shares of common stock and warrants were offered in units consisting of one share of common stock and one warrant to purchase 0.375 shares of common stock at a price of $3.74 per unit. The warrants have a term of four years and are exercisable any time on or after the six month anniversary of the date they are issued, at an exercise price of $4.43 per share.

Amicus saw net proceeds of around $17.1 million, after deducting placement agent fees and estimated offering expenses.

The company plans to use the net proceeds from the offering for general corporate purposes and to further advance the development of the company’s lead product candidate, Amiga, including the initiation of the Phase 3 study to support registration in the European Union and the completion of certain activities required for the submission of a license application globally.

New Jersey-based Amicus Therapeutics is developing orally-administered, small molecule drugs called pharmacological chaperones, a novel approach to treating a range of diseases including lysosomal storage disorders and diseases of neurodegeneration.

Amicus’ lead program is in Phase 3 for the treatment of Fabry disease.

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