Osage University Partners has participated in a $62m series B round for Satsuma Pharmaceuticals, which also featured Shin Nippon Biomedical Laboratories.
Satsuma Pharmaceuticals, a US-based acute migraine treatment developer, obtained $62m in series B funding yesterday from investors including spinout-focused investment firm Osage University Partners.
Wellington Management Company led the round, which also featured contract research firm Shin Nippon Biomedical Laboratories, RA Capital Management, TPG Biotech, Cam Capital, Surveyor, Eventide Asset Management, Cormorant, Lumira Ventures and SBI Investment.
Satsuma, spun out of Shin Nippon Biomedical Laboratories in 2016, is working on a medical device to self-administer a proprietary form of existing anti-migraine drug dihydroergotamine (DHE).
DHE is currently administered primarily through injections, though it is available as a less potent nasal spray. Satsuma has developed a dry-powder nasal formulation it hopes will offer consistent and robust efficacy.
The product, STS101, will be advanced into late-stage clinical development following the series B round, with a randomised, double-blind, placebo-controlled phase 3 trial set to begin in the third quarter…
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
