07:01 AM EDT, 07/29/2024 (MT Newswires) -- Collegium Pharmaceutical ( COLL ) said Monday it has agreed to acquire Ironshore Therapeutics for $525 million in cash, with the potential for an additional $25 million in commercial milestone payment.

Ironshore markets Jornay PM, an evening dose to treat attention deficit hyperactivity disorder in patients aged six years and older.

The acquisition, expected to close in Q3, will be funded through Collegium's current cash and a $646 million loan from Pharmakon Advisors.