Ironwood Pharmaceuticals to separate into two companies in 2019.

Ironwood Pharmaceuticals, Inc. announced that its Board of Directors has authorized an intent to separate into two independent, publicly traded companies (Ironwood and �R&D Co.�). The separation is expected to be completed in the first half of 2019 and is anticipated to be tax-free to Ironwood shareholders.Following the separation, Ironwood has a development program targeting treatments for gastrointestinal (GI) diseases, uncontrolled gout, and abdominal pain. R&D Co. will harness the pioneering work in cyclic guanosine monophosphate (cGMP) pharmacology to advance an innovative sGC pipeline expected to focus on the treatment of serious and orphan diseases, led by Phase II clinical compounds praliciguat and olinciguat (IW-1701).Ironwood today markets three commercial medicines, including Linzess, a category leader, and is advancing a deep pipeline of drug candidates targeting severe and high unmet need diseases. The company is pioneering two important areas: commercializing products in categories with millions of potential patients and innovating to discover and develop important new medicines. The positive Phase IIb data from IW-3718, combined with the significant progress within its sGC platform, including recent Phase IIa praliciguat data, catalyses the ability of Ironwood to separate into two focused, durable businesses poised for long-term growth.Comment: The restructuring of Ironwood will see the spinning out of its soluble guanylate cyclase (sGC) stimulator pipeline for rare disorders into a stand-alone, publicly traded company, while the group's remaining operations of gastrointestinal drugs will be placed in a smaller, separately quoted group.