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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来源: EndPoints

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