Ironwood Pharmaceuticals Inc. announced planned management changes in connection with its decision to spin off its soluble guanylate cyclase business to form a new independent, publicly traded company.
The existing Ironwood company, dubbed New Ironwood, will retain its three marketed products and two development candidates targeted to treat gastrointestinal diseases and abdominal pain.
Mark Currie, currently chief scientific officer and president of research and development, will become president of the new entity — called R&D Co.
William Huyett, currently COO of Ironwood, will become CFO of the new company.
Meanwhile, Thomas McCourt will become president of the New Ironwood company and Gina Consylman will continue as CFO. McCourt has been Ironwood's senior vice president of marketing and sales and chief commercial officer since 2009, and Consylman has been senior vice president and CFO since 2017.
Halley Gilbert, who has been senior vice president, chief legal officer since 2014, will become chief administrative officer of New Ironwood.
The spinoff is expected to be completed in the first half of 2019.
Cambridge, Mass.-based Ironwood Pharmaceuticals is a commercial biotechnology company, which focuses on developing and marketing gastrointestinal therapies.
