Ironwood Pharmaceuticals Appoints Sravan K. Emany as Chief Financial Officer

Rhea-AI Summary

Ironwood Pharmaceuticals announced the appointment of Sravan K. Emany as the new Chief Financial Officer effective December 6, 2021. Emany, who has extensive experience in financial strategy within the healthcare sector, will oversee all financial operations and report to CEO Thomas McCourt. McCourt expressed confidence that Emany's expertise will enhance Ironwood's impact on gastrointestinal (GI) healthcare and benefit shareholders. Previously, Emany held leadership roles at Integra LifeSciences and has 18 years in investment banking.

Positive

• Emany's appointment expected to strengthen financial operations.
• His extensive background in healthcare finance may enhance strategic growth.
• Fresh leadership perspective could boost innovation in GI treatments.

Negative

• Concerns about potential continuity during leadership transition.
• Experience gaps may arise due to unfamiliarity with Ironwood's operations.

BOSTON--(BUSINESS WIRE)-- Ironwood Pharmaceuticals, Inc. (NASDAQ: IRWD), a GI-focused healthcare company, today announced the appointment of Sravan K. Emany as senior vice president, chief financial officer. Mr. Emany will become a member of Ironwood’s Leadership Team and be responsible for all financial operations of the company, including financial planning and reporting, tax, accounting, and investor relations effective December 6, 2021. He will report to Thomas McCourt, chief executive officer of Ironwood.

Mr. McCourt commented, “We always look to our mission to guide our efforts to deliver the highest value to our stakeholders. We believe Sravan’s deep financial and corporate strategy capabilities within the healthcare industry will help us continue to make a meaningful impact on the GI community and to our shareholders. We are very pleased that an executive with Sravan’s skills, integrity, and proven leadership is joining our leadership team.”

Mr. Emany brings an extensive array of financial experience to Ironwood, including a background in strategy, capital markets transactions, marketing, commercial support, and corporate leadership in the life sciences industry. Before joining Ironwood, Mr. Emany served as corporate vice president, commercial excellence and chief strategy officer of Integra LifeSciences Holdings Corporation, a publicly held global healthcare company where he also was vice president of strategy, treasury and investor relations.

Prior to this, Mr. Emany led numerous mergers and acquisitions in the healthcare sector and served in various investment banking roles for a total of 18 years at firms including Bank of America, Goldman Sachs, and Morgan Stanley. Mr. Emany holds a B.A. in international relations from The Johns Hopkins University and an M.A. in international relations and international economics from The Johns Hopkins School of Advanced International Studies (SAIS).

“I am inspired by Ironwood’s commitment to redefining the standard of care for GI diseases through continued scientific innovation,” added Mr. Emany. “I look forward to working with my new colleagues as we further strengthen Ironwood’s leadership position in GI to realize Ironwood’s long-term growth potential.”

About Ironwood Pharmaceuticals

Ironwood Pharmaceuticals (Nasdaq: IRWD) 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). 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.

Founded in 1998, Ironwood Pharmaceuticals is headquartered in Boston, Massachusetts.

We routinely post information that may be important to investors on our website at www.ironwoodpharma.com. In addition, follow us on Twitter and on LinkedIn.

Forward-Looking Statements

This press release contains forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, including statements about the expected benefits from Mr. Emany’s appointment as senior vice president, chief financial officer, and its potential impacts on the GI community and Ironwood’s shareholders, and Ironwood’s leadership position in GI to realize long-term growth potential. These forward-looking statements speak only as of the date of this press release, and Ironwood undertakes no obligation to update these forward-looking statements. Each forward-looking statement is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such a statement. Applicable risks and uncertainties include those related to the effectiveness of development and commercialization efforts by us and our partners; preclinical and clinical development, manufacturing and formulation development of linaclotide; the risk that clinical programs and studies may not progress or develop as anticipated, including that studies are delayed or discontinued for any reason, such as safety, tolerability, enrollment, manufacturing, economic or other reasons; the risk that findings from our completed nonclinical and clinical studies may not be replicated in later studies; the risk that we or our partners are unable to obtain, maintain or manufacture sufficient LINZESS or our product candidates, or otherwise experience difficulties with respect to supply or manufacturing; the efficacy, safety and tolerability of linaclotide and our product candidates; the risk that the therapeutic opportunities for LINZESS or our product candidates are not as we expect; decisions by regulatory and judicial authorities; the risk we may never get additional patent protection for linaclotide and other product candidates; the risk that we may never get sufficient patent protection for linaclotide and other product candidates, that patents for linaclotide or other products may not provide adequate protection from competition, or that we are not able to successfully protect such patents; outcomes in legal proceedings to protect or enforce the patents relating to our products and product candidates, including abbreviated new drug application litigation; developments in the intellectual property landscape; challenges from and rights of competitors or potential competitors; the risk that our planned investments do not have the anticipated effect on our company revenues; the risk that we are unable to manage our expenses or cash use, or are unable to commercialize our products as expected; the impact of the COVID-19 pandemic; and the risks listed under the heading "Risk Factors" and elsewhere in Ironwood's Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, and in our subsequent SEC filings.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211201005071/en/

Ironwood Pharmaceuticals, Inc.

Media:

Beth Calitri, 978-417-2031

bcalitri@ironwoodpharma.com

Investors:

Matt Roache, 617-621-8395

mroache@ironwoodpharma.com

Source: Ironwood Pharmaceuticals, Inc.

FAQ

What is the significance of Sravan K. Emany's appointment at Ironwood Pharmaceuticals?

Sravan K. Emany's appointment as CFO is significant as he brings extensive financial experience in the healthcare sector, which may enhance Ironwood's growth and innovation in GI healthcare.

When will Sravan K. Emany officially start his role at Ironwood Pharmaceuticals?

Sravan K. Emany will officially start his role as CFO on December 6, 2021.

What are Sravan K. Emany's previous roles before joining Ironwood Pharmaceuticals?

Before joining Ironwood, Emany served as corporate vice president and chief strategy officer at Integra LifeSciences, and has 18 years of experience in investment banking.

How might Sravan K. Emany's experience benefit Ironwood Pharmaceuticals?

Emany's experience in financial strategy and capital markets in the healthcare industry is expected to strengthen Ironwood's financial operations and strategic growth.