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Ironwood Pharmaceuticals, Inc. Message Board

  • ding_king2000 ding_king2000 Sep 20, 2012 8:30 PM Flag

    Synergy Pharmaceuticals Inc to pay Ironwood a royalty.

    Form 8-K for SYNERGY PHARMACEUTICALS, INC.

    --------------------------------------------------------------------------------

    20-Sep-2012

    Entry into a Material Definitive Agreement

    Item 1.01 Entry into a Material Definitive Agreement
    On September 14, 2012, Synergy Pharmaceuticals Inc. (the "Company") entered into a binding letter of intent (the "LOI") with Ironwood Pharmaceuticals, Inc. ("Ironwood") pursuant to which the Company and Ironwood agreed to enter into a definitive license agreement giving the Company an exclusive worldwide license to Ironwood's method of use patents on plecanatide for the treatment of chronic constipation. The LOI contemplates a low single digit royalty on net sales and both parties agreed not to challenge each other's patents covering certain GC-C agonists. The Company retains the right to challenge Ironwood's method of use patents on plecanatide.

    Sentiment: Strong Buy

 
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