John Kollins, Satsuma Pharmaceuticals CEO

Japan­ese CRO buys back pen­ny stock spin­out while await­ing FDA de­ci­sion on mi­graine can­di­date

Months af­ter an­nounc­ing it will not take on the com­mer­cial­iza­tion of its own mi­graine drug-de­vice, Sat­suma Phar­ma­ceu­ti­cals has found the buy­er that it’s been look­ing for.

The sale to Japan­ese CRO Shin Nip­pon Bio­med­ical Lab­o­ra­to­ries (SNBL) marks a full cir­cle for Sat­suma, which got start­ed about six years ago as a spin­out of SNBL. Its fo­cus on a sin­gle lead as­set — a dry-pow­der nasal for­mu­la­tion of an old mi­graine treat­ment dubbed di­hy­droer­go­t­a­mine, de­vel­oped with SNBL’s drug de­liv­ery tech — won it $74 mil­lion in ven­ture fund­ing be­fore it raised $82.5 mil­lion in a 2019 IPO.

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