The Medicines Company (TMC) has agreed to acquire Incline Therapeutics, which is pursuing the development of Ionsys® (fentanyl iontophoretic transdermal system), a needleless, patient-controlled analgesia device for the short-term management of acute postoperative pain. Cadence Pharmaceuticals obtained an exclusive option to acquire Incline in 2010 but this will be terminated on completion of the purchase of Incline by TMC. On the same day as the Incline deal, TMC also announced a 2-year global licence and collaboration agreement for Bristol-Myers Squibb’s Recothrom®, a US FDA approved topical recombinant thrombin to control non-arterial bleeding during surgery.