Osage University Partners-backed Satsuma has filed for an $86.3m initial public offering that will fund phase 3 trials of its migraine candidate.
Satsuma Pharmaceuticals, a US-based migraine treatment developer backed by spinout-focused investment firm Osage University Partners, has filed to raise up to $86.3m in an initial public offering.
Founded in 2016, Satsuma is developing an acute migraine treatment, STS101, that will administer a dry-powder formulation of a chemical compound known as dihydroergotamine mesylate through a nasal spray.
The IPO proceeds will fund phase 3 clinical trials for STS101, the company having launched a phase 3 Emerge trial for the drug candidate last month.
Satsuma has raised $74m in funding, $12m of which came in a 2017 series A round co-led by investment management firm RA Capital Management and TPG Biotech, a life sciences investment vehicle for private equity group TPG.
Investment manager Wellington Management Company led Satsuma’s $62m series B round in April 2019, which included Osage University Partners, contract researcher Shin Nippon Biomedical Laboratories…
