Ironwood Files Form 10 for Cyclerion


          , 2019

Dear Future Cyclerion Shareholder:

        On behalf of the entire Cyclerion team, I am pleased to welcome you as a future shareholder of our new company.

        Cyclerion will be a clinical-stage biopharmaceutical company focused on harnessing the full therapeutic potential of nitric oxide signaling through development of next-generation soluble guanylate cyclase, or sGC, stimulators. sGC stimulators act synergistically with nitric oxide on sGC to boost production of cyclic guanosine monophosphate, or cGMP. cGMP is a key second messenger that regulates diverse and critical biological functions throughout the body including blood flow and vascular dynamics, inflammatory and fibrotic processes, metabolism and neuronal function.

        Cyclerion intends to discover, develop and commercialize breakthrough treatments for serious and orphan diseases by developing differentiated next-generation sGC stimulators designed to preferentially enhance nitric oxide signaling in tissues and organs that are most relevant to the specific diseases they are each intended to treat.

        At launch, Cyclerion’s portfolio will comprise five differentiated sGC stimulator programs:

olinciguat, currently in a Phase 2 trial as an oral, once-daily vascular sGC stimulator for patients suffering from sickle cell disease; 

praliciguat, in two separate Phase 2 trials as an oral, once-daily systemic sGC stimulator for heart failure with preserved ejection fraction, or HFpEF, and for diabetic nephropathy, respectively; 

IW-6463, a central nervous system-penetrant oral sGC stimulator, is currently in a Phase 1 first-in-human study and is designed to treat serious and orphan neurodegenerative diseases; and 

two organ-targeted programs to address serious and orphan diseases of the liver and lung, respectively.

        We believe our extensive intellectual property position and team’s deep expertise provide a competitive advantage as we aim to advance our portfolio of differentiated sGC stimulators.

        We have applied to have our common stock listed on NASDAQ under the symbol “CYCN” in connection with the distribution of our company’s common stock by Ironwood.

        I invite you to learn more about Cyclerion by reviewing the enclosed information statement.

        We look forward to our future as an independent company, and to your support as a Cyclerion shareholder as we begin this new and exciting chapter.


Peter Hecht, Ph.D.
Chief Executive Officer

Cyclerion Therapeutics, Inc.

Link to Form 10:

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