SNBL Acquires Satsuma Pharmaceuticals
Shin Nippon Biomedical Laboratories (SNBL) is set to acquire Satsuma Pharmaceuticals for $0.91 per share in cash plus one non-tradeable contingent value right (CVR) of up to $5.77 per share. Satsuma submitted a New Drug Application to the FDA in March 2023 for STS101, a novel investigational therapeutic product candidate for the acute treatment of migraine. The Satsuma Board of Directors believes that the acquisition of Satsuma by SNBL is the best strategic alternative for Satsuma and that this transaction will maximize value for its stockholders.