Ironwood Pharmaceuticals Inc. (f.k.a. Microbia), a Cambridge, Mass.-based antibacterial drug company focused on gastrointestinal disorders, has set its IPO terms to 16.67 million common shares being offered at between $14 and $16 per share. It plans to trade on the Nasdaq under ticker symbol IRWD, with Credit Suisse, J.P. Morgan and Morgan Stanley serving as co-lead underwriters.
The company has raised over $250 million in total VC funding since 1998, from firms like Ridgeback Capital (13.41% pre-IPO stake), Venrock (11.27%), Polaris Venture Partners (8.14%), Morgan Stanley (6.9%), Fidelity Biosciences and Paperboy Ventures. www.ironwoodpharma.com