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Ironwood Pharmaceuticals, spinoff company Cyclerion name CEOs

Ironwood Pharmaceuticals Inc. appointed Mark Mallon and Peter Hecht as CEO of Ironwood and its spinoff company Cyclerion Therapeutics Inc., respectively.

Cyclerion is Ironwood's soluble guanylate cyclase biotechnology business being spun off to form an independent, publicly traded company to focus on treating serious and orphan diseases.

Hecht has been with Cambridge, Mass.-based Ironwood since co-founding the company in 1998, serving as CEO and a director.

Both Mallon and Hecht will join as directors of their respective companies. The appointments will take effect in conjunction with the planned spin off, which is expected to be completed in the first half of 2019.

Mallon joins Ironwood immediately as executive senior adviser from AstraZeneca PLC, where he was most recently executive vice president of global product and portfolio strategy leading global marketing, commercial operations, pricing and market access, medical affairs and corporate affairs.

Additionally, Ironwood named Michael Shetzline as chief medical officer, senior vice president and head of drug development, effective Jan. 28.

Shetzline will lead global product development for Ironwood following the planned separation of Ironwood and Cyclerion. He will report to Thomas McCourt, who will become Ironwood's president after the separation.

Prior to joining Ironwood, Shetzline served as vice president and head of gastroenterology clinical sciences at Takeda Pharmaceutical Co. Ltd.'s Takeda Pharmaceuticals International Co., where he led global clinical development for all gastrointestinal assets.