Ironwood Pharmaceuticals, Inc. (Nasdaq: IRWD), a GI-focused healthcare company, and VectivBio Holding AG (Nasdaq: VECT), a clinical-stage biopharmaceutical company pioneering novel, transformational treatments for severe rare gastrointestinal conditions, have announced that they have entered into a definitive agreement for Ironwood to acquire VectivBio for US$17.00 per share in an all-cash tender offer transaction with an estimated aggregate consideration of approximately US$1 billion, net of VectivBio cash and debt.

Latham & Watkins represents Ironwood Pharmaceuticals in the transaction with a corporate deal team led by Orange County partners Charles Ruck and Daniel Rees, Los Angeles Partner Andrew Clark, and New York partner Ian Nussbaum, with Orange County associates Brian Umanoff, Taylor Ashton and Mekbeb Hagos. Advice was also provided on finance matters by New York partner Stephanie Teicher with associates Sara Shahmiri, and Jacob Sikora; on tax matters by New York partner David Raab, with associate Abigail Friedman; on IP and data privacy matters by Washington, D.C. partners Morgan Brubaker and Clayton Northouse, with London associates Jane Bentham and Ami Sodha; on benefits and compensation matters by Los Angeles partner Michelle Carpenter; on FDA and healthcare regulatory matters by Washington D.C. partner Ben Haas; Bay Area partner Betty Pang, Paris partner Eveline Van Keymeulan, Washington, D.C. counsel Chad Jennings; and on antitrust matters by San Francisco partner Joshua Holian, and Washington, D.C. counsel Patrick English.