Amicus' gene therapy SPAC merger folds, turning pipeline and R&D into target of $400M in cuts

Amicus Therapeutics’ plan to spin off its gene therapy assets has run into the reality of the biotech stock market in 2022. With “market conditions” sinking the planned special purpose acquisition company merger, Amicus plans to prioritize its gene therapy pipeline as part of a push to generate $400 million in net savings through 2026.