Astellas gains rights to Ironwood's linaclotide

Ironwood Pharmaceuticals Inc. (Cambridge, Mass.) granted Astellas Pharma Inc. (Tokyo:4503) exclusive rights to develop and commercialize linaclotide in Japan, Indonesia, Korea, the Philippines, Taiwan and Thailand. The guanylate cyclase C ( GCC, GUCY2C) agonist is in Phase III testing in the U.S. for irritable bowel syndrome with constipation (IBS-C) and chronic constipation. Ironwood will receive $30 million up front and will be eligible for up to $45 million in milestones, plus royalties. Astellas is responsible for all development and commercialization in the territories. ...