Spring­Works seeks $115M to push Pfiz­er drugs across fin­ish line while Sat­suma sells mi­graine play in $86M IPO

Spring­Works and Sat­suma — both biotech spin­outs that have closed B rounds in April — are load­ing up with IPO cash to boost their re­spec­tive late-stage plans.

Spring­Works

Bain-backed Spring­Works is the bet­ter-known com­pa­ny of the two, and it’s gun­ning for a larg­er wind­fall of $115 mil­lion to add to $228 mil­lion from pre­vi­ous fi­nanc­ings. In the process, the Stam­ford, CT-based team is al­so draw­ing the cur­tains on the part­ner­ships it has in mind for the pair of as­sets it had ini­tial­ly li­censed from Pfiz­er.

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