Ironwood Pharmaceuticals is paying $1 billion to acquire VectivBio, a biotech whose lead program could become a blockbuster treatment for a gastrointestinal disorder. Preliminary Phase 3 data are expected by the end of 2023.
The public markets welcomed VectivBio and Reneo Pharmaceuticals, which priced their IPOs late Thursday. Both clinical-stage companies are developing drugs that address rare diseases.
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