Ironwood set to receive up to $150M from Almirall in linaclotide deal

US firm Ironwood Pharmaceuticals has entered into an out-licensing agreement with Laboratorios Almirall of Spain, for European rights to  develop and commercialize the investigational compound linaclotide for  the treatment of irritable bowel syndrome with constipation and other  gastrointestinal conditions. This deal is a continuation of Ironwood's  strategy to develop and market its products in the USA while forming  partnerships to accelerate delivery to patients in other territories.

Under the terms of the accord, Almirall will provide Ironwood with up  to $55.0 million in near-term payments, including a $40.0 million  upfront licensing fee. Pre-commercial licensing fees and milestone  payments total $95.0 million, for a total of as much as $150.0 million.  In addition, the US firm will receive escalating royalties on  linaclotide sales. Almirall will be responsible for activities relating  to regulatory approval and commercialization, as well as expenses for  the European market. Ironwood continues to retain all rights to  linaclotide outside of North America and Europe.