Ironshore’s $525 Million Sale to Collegium

Cleary Gottlieb represented the major shareholders in the sale of Ironshore Therapeutics Inc. (Ironshore) to Collegium Pharmaceutical Inc. (Collegium).

Under the terms of the merger agreement, Collegium will acquire Ironshore for $525 million in cash at closing. Collegium will also pay Ironshore shareholders $25 million in additional consideration if Ironshore’s net revenue exceeds a certain threshold in 2025. The transaction signed on July 29, 2024, and is expected to close in the third quarter of 2024.

Ironshore is a pharmaceutical company that specializes in medication used in the treatment of ADHD. Collegium’s acquisition will mark an expansion for the pharmaceutical company beyond pain management through the establishment of a presence in the large and growing ADHD market.

For more information, please see the press release here.