Ironwood and VectivBio Announce the Completion of the Tender Offer for VectivBio Shares

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 the successful completion of the tender offer to purchase the outstanding ordinary shares of VectivBio (the “Shares”) for $17.00 per share in cash (the “Tender Offer”).

The Depositary for the Tender Offer has advised Ironwood and VectivBio that at the end of the offering period, 59,287,753 Shares had been tendered and not withdrawn pursuant to the Tender Offer and it has received commitments to tender 2,007,310 additional Shares under the guaranteed delivery procedures described in the offer, representing in the aggregate approximately 97.60 percent of the outstanding Shares. Ironwood has accepted for payment and will promptly pay for all Shares that have been validly tendered and not validly withdrawn in accordance with the terms of the Tender Offer Statement on Schedule TO filed with the U.S. Securities and Exchange Commission (the “SEC”) on May 31, 2023, as amended. Effective immediately following the completion of the Tender Offer, the current directors of VectivBio were replaced with those Ironwood appointed directors as approved by the VectivBio shareholders at the extraordinary general meeting of shareholders held on June 26, 2023.

As previously announced, Ironwood intends to cause VectivBio to voluntarily delist its shares from Nasdaq and intends to effect a squeeze-out merger under Swiss law to acquire all remaining outstanding Shares.

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.