Shin Nippon spins out Satsuma with $12M series A

Shin Nippon Biomedical Laboratories Ltd. (Tokyo:2395) spun out migraine company Satsuma Pharmaceuticals Inc. (San Francisco, Calif.) with a $12 million series A round co-led by RA Capital Management and TPG Biotech.

Satsuma plans to develop lead program STS101, which is in preclinical development to treat migraine. STS101 combines dihydroergotamine (DHE) with proprietary dry powder nasal formulation and delivery technologies from Shin Nippon...