Ironwood Pharmaceuticals, which has recently emerged from a new firm focusing on rare disease treatments, is moving its headquarters from Cambridge to Boston.
The company will move drugs from the slipway building which occupies Binney Street to 39,000 square feet at 100 Summer Street. The move is expected to be completed in the fourth quarter this year and to save over £ 25 million in cash payments to his landlord over the next five years. The company signed a lease that runs until 2030.
Ironwood leased over 200,000 square feet on the first three floors of 301 Binney St. for several years. But in April she left for Cyclerion Therapies, which stays in that building. At present Ironwood is located in 108,000 square feet.
Founded in 1998, Ironwood Linzess, a drug dealing with funny bowel syndrome and compensation, developed on the market in 2012 with Allergan who subsequently purchased a corporate partner. Now Ironwood is growing in dealing with common gastrointestinal disorders with two experimental drugs in mid-stage and late clinical trials.
At the end of 2017, Ironwood had 730 employees, Meredith Kaya, company spokesperson, said in March. The Ironwood will have around 330 employees who are reduced.