Ironwood to buy VectivBio in $1B all-cash deal to expand rare gastrointestinal pipeline
Ironwood Pharmaceuticals agreed to buy Swiss biotech VectivBio in an all-cash deal with an estimated aggregate consideration of about $1 billion, extending the “blistering” M&A pace of 2023’s first half.
The Boston drugmaker will buy the European counterpart — backed by a who’s who of biotech investors like Forbion, OrbiMed and Versant — for $17 per share, which is an 80% premium to the previous 90-day volume-weighted average. The agreement was entered into on Sunday following board approval from both sides.
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