Collegium Pharmaceutical to acquire Ironshore Therapeutics for $525M in cash

Collegium Pharmaceutical and Ironshore Therapeutics announced a definitive agreement pursuant to which Collegium will acquire Ironshore for $525M in cash with the potential for an additional $25M commercial milestone payment. Ironshore is a privately held, pharmaceutical company that markets and distributes Jornay PM, a central nervous system stimulant prescription medicine for the treatment of attention deficit hyperactivity disorder in people six years of age and older and the only stimulant medication that is dosed in the evening. The acquisition of Ironshore will represent a significant milestone in advancing Collegium’s mission of building a leading, diversified specialty pharmaceutical company by expanding the company’s business beyond pain management and establishing a commercial presence in a new and growing market. Collegium expects this transaction to be immediately accretive to adjusted EBITDA, excluding transaction costs. The transaction, which has been unanimously approved by the boards of directors of both companies, is expected to close in the third quarter of 2024, subject to customary closing conditions, including receipt of required regulatory approvals.