Santhera sells US rights to Duchenne drug for $231M

Santhera has handed over commercialization rights of its steroid vamorolone for Duchenne muscular dystrophy to Catalyst Pharmaceuticals in the US, receiving an upfront payment of $90m, including $75m in cash and $15m in equity. Catalyst will also buy 14.1 million shares at just under 95 Swiss franc cents each, which will finance Phase IV studies for vamorolone in Duchenne muscular dystrophy and work on additional indications for the still investigational drug.