Ironwood pockets $40M upfront

Cambridge, MA-based Ironwood Pharmaceuticals has snagged a $40 million upfront payment from Spain's Almirall in exchange for the European rights to its experimental drug for irritable bowel syndrome with constipation. Ironwood also gains $15 million in near-term milestones for linaclotide plus $40 million more in milestones leading up to commercialization. And Ironwood will also earn an undisclosed royalty stream. Release | Report