Zymeworks agrees to buy Theravance Biopharma for $929m

Salong Debbarma

Tue, June 30, 2026 astatine 3:26 AM CDT 2 min read

Canadian biotechnology institution Zymeworks has signed an statement to get Theravance Biopharma successful a currency transaction valued astatine astir $929m (C$1.32bn).

Under the presumption of the deal, Theravance Biopharma shareholders volition person $17 per share.

Shareholders volition besides person a contingent worth close (CVR) entitling them to 80% of nett proceeds from immoderate aboriginal licence, divestiture oregon monetisation of ampreloxetine, should this hap wrong the adjacent 10 years.

Zymeworks volition beryllium entitled to the remaining 20% of specified proceeds. If ampreloxetine is not monetised by the adjacent of the transaction, a Theravance Biopharma designee volition person up to 12 months post-closing to research specified opportunities connected Zymeworks' behalf.

The transaction follows a strategical alternatives reappraisal conducted by Theravance Biopharma's Strategic Review Committee and Board of Directors, with Lazard acting arsenic pb fiscal advisor.

The committee considered a scope of options and antecedently oversaw the merchantability of the company's Trelegy royalty involvement for $225m successful 2025, arsenic good arsenic script readying for objective outcomes and a institution restructuring.

Theravance Biopharma CEO Rick Winningham said: "We are arrogant of what Theravance Biopharma has accomplished implicit the past respective years, including the palmy improvement and commercialisation of Yupelri, which has go an important attraction enactment for patients with COPD [chronic obstructive pulmonary disease].

"Additionally, we proceed to research whether determination is simply a way to bring ampreloxetine to patients with MSA [multiple strategy atrophy] and nOH [neurogenic orthostatic hypotension], a assemblage with precocious unmet aesculapian need. Our achievements would not person been imaginable without the dedication and committedness of our team, whose contributions helped the institution scope this result and marque a quality for patients astir the world."

The boards of some companies person unanimously approved the agreement, which remains taxable to shareholder and regulatory approvals and is expected to adjacent during the 2nd fractional of 2026.

Financing includes a $350m enactment from OMERS Life Sciences and currency from some Zymeworks and Theravance Biopharma's expected balances astatine closing.

In June 2025, China's National Medical Products Administration conditionally approved Zymeworks' zanidatamab for treating individuals with anterior treated, unresectable oregon metastatic quality epidermal maturation origin receptor 2-positive biliary tract cancer.