Based in prominent biotech hub of South San Francisco, Satsuma Pharmaceuticals (Satsuma) has raised $62 million to finance the Phase III development of its STS101 (dihydroegotamine (DHE) nasal powder) for the acute treatment of migraine. Investors include lead Welllington Management Company as well as existing vendors (RA Capital Management, TPG Biotech, Shin Nippon Biomedical Laboratories) and new investors including Osage University Partners, CAM Capital, Surveyor, Eventide Asset Management, Cormorant, Lumira Ventures and SBI Investment.
With fresh capital infusion, it will initiate the randomized, double-blind, placebo-controlled Phase III trial in Q3 2019. STS101 is a novel and proprietary investigational drug-device combination produce specifically designed to enable intranasal administration of the anti-migraine drug DHE. The commercial sponsor has positioned the investigational product has “applied proprietary nasal drug delivery, dry-powder formulation, and engineered drug particle technologies to create a compact, simple-to-use, self-administered, and non-injectable DHE product.” Satsuma leadership (and investors) are assuming that assuming DHE is approved that patients will gravitate to this treatment option and realize long-recognized therapeutic benefits of DHE therapy. STS101 has already been through pre-clinical work and recent Phase I study completion.
Satsuma is a spin-off of Japanese Shin Nippon Biomedical Laboratories Ltd. (SNBL) Headquartered in Tokyo, Japan, SNBL is a leading global preclinical and clinical contract research services provider and creator of innovative technologies, including the proprietary dry-powder nasal formulation and drug delivery device technologies incorporated into the Satsuma lead product STS101 as well as stereopure nucleic acid therapeutic technology being developed by SNBL spinout venture WAVE Life Sciences.
Worldwide migraines impact nearly 15% or approximately one billion people. Women experience them more frequently (19%) than men (11%). Rates are slightly higher in North America and Europe than Asia or Africa.