Troutman Pepper advised Bloom Burton as the lead agent in a US$40M overnight marketed public offering in Canada and a concurrent private placement in the United States for Satellos Bioscience Inc., a public biotech company developing new small molecule therapeutic approaches to improve the treatment of muscle diseases and disorders.
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 team advising Bloom Burton in the offering included Thomas Rose and Shona Smith.