Latham Advises on Satellos’ US$50 Million Initial US Offering

Satellos Bioscience Inc. (TSX: MSCL, Nasdaq: MSLE) (the company), a clinical-stage biotechnology company developing life-improving medicines to treat degenerative muscle diseases, has announced the pricing of its previously announced public offering (the offering) of 4,455,445 common shares and, in lieu of common shares for certain investors, pre-funded warrants to purchase 495,049 common shares. The common shares are being sold at a price of US$10.10 per share (C$13.81 per common share) and the pre-funded warrants are being sold at a price of US$10.09999 per pre-funded warrant (C$13.80999 per pre-funded warrant), which represents the per share price for the common share less the C$0.00001 per share exercise price for each pre-funded warrant. The pre-funded warrants do not expire. In addition, the company has granted the underwriters a 30-day option following the date hereof to purchase up to an additional 742,574 common shares from the company at the public offering price, less underwriting discounts and commissions.

Latham & Watkins LLP is advising the underwriters in the offering with a Capital Markets team led by New York partners Nathan Ajiashvili and Adam Gelardi, with associates KC Sands, Emma Gilmore, and Molly Mitchell. Advice was also provided on tax matters by Washington, D.C. partner Andrea Ramezan-Jackson, with associate Tessa Young; on FDA regulatory matters by Washington, D.C. partner Elizabeth Richards, with associate Evan Miller; on healthcare regulatory matters by Bay Area partner Betty Pang; and on intellectual property matters by New York counsel Eliot Choy, with associates Arun Mohan and Patrick Chew.