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.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.