Ironshore Pharmaceuticals

About Ironshore Pharmaceuticals

Ironshore Pharmaceuticals is a pharmaceutical company focused on developing and commercializing treatments for Attention Deficit Hyperactivity Disorder (ADHD). Founded in 2008 by David Lickrish, the company operates as a wholly-owned subsidiary of Highland Therapeutics Inc. Lickrish, who previously worked as a Senior Equity Research Analyst covering the Global Pharmaceutical Industry, identified a significant unmet need in the ADHD market related to early morning functioning. This insight, gained during his finance career, prompted his transition into the healthcare sector to create solutions for this clinical challenge.

The company's core business revolves around its proprietary DELEXIS® drug delivery technology. This platform enables the development of delayed-release and extended-release medications. The technology utilizes two functional film coatings; the first delays the drug's initial release for up to 10 hours, while the second controls the gradual release of the active ingredient throughout the day. This system allows for evening administration of medication to provide therapeutic effects upon waking and throughout the following day. Ironshore generates revenue through the commercialization of its pharmaceutical products. In July 2024, it was announced that Collegium Pharmaceutical would acquire Ironshore for $525 million in cash, with an additional potential payment of $25 million based on 2025 revenue milestones.

Ironshore's flagship product is JORNAY PM® (methylphenidate HCI), a central nervous system stimulant for treating ADHD in individuals aged six and older. The U.S. Food and Drug Administration (FDA) approved JORNAY PM in August 2018. What distinguishes JORNAY PM is its evening dosage schedule, designed to control ADHD symptoms from early morning through the rest of the day, addressing the common challenge of chaotic morning routines for patients and their families. The product, formerly known as HLD200, demonstrated its effectiveness in improving early morning symptoms in two Phase III clinical studies involving 278 pediatric patients. The commercial launch of JORNAY PM began in the first half of 2019. The drug is expected to generate sales exceeding $100 million in 2024, with prescriptions growing 32% year-over-year in the first half of the year. The product's patents extend into 2032.