Ironwood and VectivBio Announce Expiration of Hart-Scott-Rodino Waiting Period for Proposed Acquisition of VectivBio

Ironwood Pharmaceuticals, Inc. (“Ironwood”) (Nasdaq: IRWD), a GI-focused healthcare company, and VectivBio Holding AG (“VectivBio”) (Nasdaq: VECT), a global clinical-stage biopharmaceutical company pioneering novel, transformational treatments for severe rare gastrointestinal conditions, today announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (“HSR”), in connection with Ironwood’s pending acquisition of VectivBio, expired at 11:59 p.m., Eastern Time, on June 15, 2023.

As previously announced on May 22, 2023, Ironwood commenced a tender offer to purchase all of VectivBio’s outstanding ordinary shares for $17.00 per share in cash. The tender offer is scheduled to expire one minute past 11:59 p.m., Eastern Time, on June 28, 2023, unless extended in accordance with the transaction agreement and the applicable rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”).

The expiration of the HSR waiting period satisfies one of the conditions necessary for the consummation of the tender offer. Consummation of the tender offer remains subject to other conditions described in the tender offer statement on Schedule TO filed with the SEC on May 31, 2023, as amended, including the tender of more than 80% of the total number of VectivBio’s outstanding shares, certain shareholder approvals and other customary conditions.

The Depositary & Paying Agent for the tender offer is Computershare Trust Company, N.A. The Information Agent for the tender offer is Innisfree M&A Incorporated. The tender offer materials may be obtained at no charge by directing a request by mail to Innisfree M&A Incorporated or by calling toll free at [phone] and may also be obtained at no charge at the website maintained by the SEC at www.sec.gov.

About Ironwood

Ironwood Pharmaceuticals (Nasdaq: IRWD), an S&P SmallCap 600 company, is a leading gastrointestinal (GI) healthcare company on a mission to advance the treatment of GI diseases and redefine the standard of care for GI patients. We are pioneers in the development of LINZESS (linaclotide), the U.S. branded prescription market leader for adults with irritable bowel syndrome with constipation (IBS-C) or chronic idiopathic constipation (CIC). In June 2023, the U.S. Food and Drug Administration also approved LINZESS for the treatment of functional constipation in pediatric patients ages 6-17 years-old. Under the guidance of our seasoned industry leaders, we continue to build upon our history of GI innovation and challenge what has been done before to shape what the future holds. We keep patients at the heart of our R&D and commercialization efforts to reduce the burden of GI diseases and address significant unmet needs.