Satsuma Pharmaceuticals, Inc., a South San Francisco, CA-based developer of therapies to address the unmet needs of migraine sufferers, closed a $12m Series A financing.
The round was co-led by RA Capital Management and TPG Biotech. In conjunction with the funding, RA Capital Portfolio Manager and Managing Director, Rajeev Shah, and TPG Biotech Partner and Managing Director, Heath Lukatch, Ph.D., joined Satsuma’s board of directors.
The company plans to use the funds to accelerate development of its lead product candidate, STS101.
Led by John Kollins, co-founder, President and Chief Executive Officer, Satsuma Pharmaceuticals is advancing STS101m a therapy for migraine that combines anti-migraine drug dihydroergotamine (DHE) with proprietary dry-powder nasal formulation and delivery technologies created and developed over the past 15 years by SNBL that enable rapid absorption with high bioavailability of drugs delivered via the nose.