Ironwood Pharmaceuticals raises $50 million

Ironwood Pharmaceuticals Inc. of Cambridge said today that it has raised $50 million in a private equity financing.

This capital will be utilized to support the ongoing Phase 3 development program evaluating linaclotide for the treatment of irritable bowel syndrome with constipation (IBS-C) and chronic constipation (CC), to invest in a growing pipeline of internally discovered drug candidates, and to expand commercial capabilities, said Ironwood, adding that the financing was led by Morgan Stanley Investment Management.
(By Chris Reidy, Globe staff)