deals, PE, Biotech

$50M Pumped Into Ironwood Coffers

Rebecca Zacks 10/1/08

Ironwood Pharmaceuticals has raised $50 million in a deal led by Morgan Stanley Investment Management and joined by many of its previous investors, the Cambridge, MA-based firm announced today. The company plans to use the cash to, among other things, help move its irritable bowel syndrome treatment linaclotide through Phase 3 clinical trials. Ironwood was founded a decade ago as Microbia by former Whitehead Institute researchers.