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Wednesday, November 20, 2013

BRIEF-Amicus Therapeutics acquires Callidus Biopharma, (NASDAQ: FOLD)

Amicus Therapeutics Inc : * Amicus has acquired Callidus Biopharma * Under deal terms, Callidus Shareholders will get $15 million in shares of co common stock; up to $10 million in milestone payments * Under deal terms, callidus shareholders will get up to $105 million forachievement of late-stage development,regulatory,approval milestones * Additionally restructured the organization to reduce costs and to align itsresources with its biologics business strategy * Workforce, including full-time employees across all levels and departments,has been reduced by approximately 14% to 91 employees * Will also close its San Diego research facility and will consolidate all

Amicus Therapeutics, Inc. (Amicus) is a biopharmaceutical company focused on the discovery, development and commercialization of orally administered, small molecule drugs known as pharmacological chaperones for treating a range of diseases, including lysosomal storage diseases and diseases of neurodegeneration. Shares of FOLD fell by 2.3% or $-0.05/share to $2.12. In the past year, the shares have traded as low as $1.99 and as high as $6.05. On average, 225778 shares of FOLD exchange hands on a given day and today's volume is recorded at 114482.