Collegium Pharmaceutical’s Merger, Loan, and Board Reshuffle

Collegium Pharmaceutical (COLL) has shared an update.

Collegium Pharmaceutical, Inc. has entered into a $525 million cash Merger Agreement with Ironshore Therapeutics Inc., which will become its wholly-owned subsidiary. The deal includes a potential $25 million milestone payment and is expected to close in the third quarter of 2024, subject to Ironshore stockholder approval and regulatory clearances. In tandem, Collegium has secured a $645.8 million loan to finance the merger and other corporate needs. Concurrently, Neil McFarlane resigned from Collegium’s board due to a conflict of interest arising from his CEO role at Zevra Therapeutics.

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