Osage University Partners has celebrated an exit as migraine treatment developer Satsuma Pharmaceuticals listed on the Nasdaq Global Market following an $82.5m offering.
Satsuma Pharmaceuticals, a US-based migraine therapy developer backed by spinout-focused investment firm Osage University Partners, priced its shares at $15 on Thursday and raised $82.5m in its initial public offering.
The company, which had targeted $86.3m in proceeds, issued 5.5 million shares on the Nasdaq Global Market. They reached a peak of $19.90 before closing at $16.90 on Friday, giving Satsuma a market cap of more than $280m.
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Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.