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Ironwood Pharmaceuticals’ acquisition of VectivBio grants it the rights to apraglutide, a glucagon-like peptide being evaluated for gastrointestinal diseases.
Ironwood Pharmaceuticals, a US-based pharmaceutical company focused on gastrointestinal (GI) treatments, and VectivBio, a Swiss clinical-stage biopharmaceutical company specializing in rare GI treatments, announced a definitive acquisition agreement on May 22, 2023 under which Ironwood will acquire VectivBio for an approximate value of $1 billion, or $17.00 per share. The deal is expected to close in the second half of 2023.
Through the transaction, Ironwood will gain VectivBio’s lead investigational asset, apraglutide, a glucagon-like peptide (GLP)-2 analog that is currently in Phase III clinical trials. It is currently being evaluated for clinical benefit for both short bowel syndrome with intestinal failure (SBS-IF) stoma and colon-in-continuity patients.
“The acquisition of VectivBio, including its compelling asset, apraglutide, is an ideal strategic fit with Ironwood,” said Tom McCourt, CEO, Ironwood, in the release. “We are confident that … we are well-positioned to continue developing apraglutide, with the goal of getting it into the hands of the patients who need it the most and potentially generate significant and sustainable value for shareholders.”
“We are delighted to enter into this agreement with Ironwood to advance the development and commercialization of innovative therapies targeted at GI and rare diseases, which is the mission of VectivBio,” said Luca Santarelli, CEO and founder, VectivBio, in the release. “Ironwood’s capabilities and established track record in GI make it the ideal company to bring apraglutide, if approved, to patients suffering from SBS-IF and other serious GI conditions. We believe this [t]ransaction represents the best outcome for our patients and shareholders.”
Source: Ironwood Pharmaceuticals