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Zymeworks Cuts Deal to Buy Theravance for $929m in Cash
The deal includes a contingent value right for ampreloxetine and is expected to add about $60 million in annualized YUPELRI cash flow.
- On Monday, Zymeworks Inc. announced a definitive agreement to acquire Theravance Biopharma Inc. for $17 per share, valuing the transaction at approximately $929 million and expected to close in the second half of 2026.
- The acquisition follows a strategic review initiated by Theravance Biopharma in 2024, which accelerated after its experimental drug ampreloxetine missed primary goals in a Phase 3 trial earlier this year.
- Financing includes a $350 million non-recourse note from OMERS Life Sciences, approximately $219 million from Zymeworks' existing cash, and Theravance Biopharma's anticipated net cash balance of about $360 million at closing.
- Shareholders will receive $17 per share in cash plus a contingent value right entitling them to 80% of net proceeds from any future ampreloxetine monetization, while Zymeworks expects a $100 million Trelegy milestone payment in Q1 2027.
- Integration plans include completing Theravance Biopharma's previously announced restructuring to align resources with Yupelri, the COPD therapy that generated $62.4 million in U.S. net sales during Q1 2026.
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Zymeworks expands beyond cancer with $929 million Theravance acquisition - Regional Media News
June 29 (Reuters) - Zymeworks said on Monday it will acquire Theravance Biopharma for $929 million in cash, marking the oncology-focused drugmaker's entry into the highly competitive respiratory disease segment. The deal gives Zymeworks access to Theravance's FDA-approved drug Yupelri, a once-daily nebulized treatment for chronic obstructive pulmonary disease (COPD), putting it in competition with major drugmakers that dominate the segment, incl…
THERAVANCE BIOPHARMA ENTERS INTO DEFINITIVE AGREEMENT TO BE ACQUIRED BY ZYMEWORKS FOR $17.00 PER SHARE IN CASH PLUS A CONTINGENT VALUE RIGHT
Theravance Biopharma shareholders to receive $17.00 per share in cash, representing an equity value of approximately $929 million Theravance Biopharma...
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Coverage Details
Total News Sources18
Leaning Left6Leaning Right1Center6Last UpdatedBias Distribution46% Left, 46% Center
Bias Distribution
- 46% of the sources lean Left, 46% of the sources are Center
46% Center
L 46%
C 46%
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