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Ironwood, China Nuokang planning IPOs

November 24, 2009 1:20 AM UTC

Ironwood Pharmaceuticals Inc. (Cambridge, Mass.) and China Nuokang Bio-Pharmaceutical Inc. (Shenyang, China) filed for IPOs on Friday. Ironwood filed to raise up to $172.5 million in an IPO underwritten by JPMorgan; Morgan Stanley; Credit Suisse; BofA Merrill Lynch; and Wedbush PacGrow Life Sciences. Earlier this month, Ironwood's linaclotide met the primary endpoint in two Phase III trials to treat chronic constipation (See BioCentury Extra, Tuesday, Nov. 03, 2009).

Data from two additional Phase III trials of the guanylate cyclase C ( GCC, GUCY2C) agonist to treat irritable bowel syndrome with constipation are expected in 2H10, with an NDA filing slated for 1H11. ...