Shin Nippon Biomedical Laboratories to acquire Satsuma Pharmaceuticals for $220m.

Shin Nippon Biomedical Laboratories, a pharmaceutical manufacturing company, agreed to acquire Satsuma Pharmaceuticals, a clinical-stage biopharmaceutical company, for $220m. “We are very pleased to announce that SNBL will be involved in the launch of this novel intranasal drug, which was developed based on SNBL’s novel intranasal drug delivery platform technology, pending potential FDA approval. We believe that STS101 will contribute to improving the quality of life of patients suffering from migraine. Consistent with SNBL’s corporate mission ‘to support drug discovery and the advancement of medical technology to relieve human suffering,’ we look forward to STS101 potentially becoming a treatment option for people with migraine as soon as possible,” Ryoichi Nagata, SNBL Chairman and President.