Satellos Bioscience Inc. (Satellos or Company), a public biotech company developing new small molecule therapeutic approaches to improve the treatment of muscle diseases and disorders, recently announced the pricing and terms of its approximately US$40 million overnight marketed public offering of its common shares in Canada and a concurrent private placement in the United States and elsewhere. Troutman Pepper represented the lead agent, Bloom Burton, in the US offering. Read a company press release about the offering.
Satellos is a clinical-stage drug development company dedicated to developing life-improving medicines to treat degenerative muscle diseases. Satellos has invented SAT-3247 as a first-of-its-kind, orally administered small molecule drug designed to restore skeletal muscle regeneration initially in Duchenne muscular dystrophy (DMD). Satellos has generated a significant body of preclinical evidence in DMD to support its discovery that correcting muscle stem cell polarity with SAT-3247 has the potential to restore skeletal muscle regeneration to repair and strengthen muscle that has been damaged.
The Troutman Pepper team advising Bloom Burton in the offering included Thomas Rose and Shona Smith.
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Original source can be found here.