Tom McCourt, Ironwood CEO

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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