Ironwood CEO Tom McCourt

More than a year af­ter trim­ming R&D unit, Iron­wood adds a rare dis­ease drug to the pipeline in hope­ful step for­ward

Iron­wood Phar­ma­ceu­ti­cals has walked a less-than-easy path the past few years with a proxy-dri­ven shake­up and mul­ti­ple clin­i­cal fail­ures rock­ing the com­pa­ny. Now un­der new lead­er­ship, Iron­wood is snag­ging rights to a rare liv­er dis­ease drug it hopes will serve as a spring­board for its fu­ture plans.

Iron­wood will pay $20 mil­lion up­front with the po­ten­tial for an ad­di­tion­al $475 mil­lion in down­stream mile­stones for rights to CNP-104, an in­ves­ti­ga­tion­al can­di­date from Cour Phar­ma­ceu­ti­cal De­vel­op­ment Com­pa­ny be­ing test­ed in rare liv­er dis­ease pri­ma­ry bil­iary cholan­gi­tis (PBC), the com­pa­nies said Thurs­day.

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