---
title: "Zymeworks agrees to buy Theravance Biopharma for $929m"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/291245920.md"
description: "Zymeworks has agreed to acquire Theravance Biopharma for $929 million. Under the deal, Theravance shareholders receive $17 per share plus contingent value rights tied to future ampreloxetine monetization. The transaction, approved by both boards, is subject to regulatory and shareholder approval, with closing expected in H2 2026. Financing includes a $350m note from OMERS Life Sciences."
datetime: "2026-06-30T08:00:09.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/291245920.md)
  - [en](https://longbridge.com/en/news/291245920.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/291245920.md)
---

# Zymeworks agrees to buy Theravance Biopharma for $929m

Under the terms of the deal, Theravance Biopharma shareholders will receive $17 per share.

Shareholders will also receive a contingent value right (CVR) entitling them to 80% of net proceeds from any future licence, divestiture or monetisation of ampreloxetine, should this occur within the next ten years.

Zymeworks will be entitled to the remaining 20% of such proceeds. If ampreloxetine is not monetised by the close of the transaction, a Theravance Biopharma designee will have up to 12 months post-closing to explore such opportunities on Zymeworks’ behalf.

The transaction follows a strategic alternatives review conducted by Theravance Biopharma’s Strategic Review Committee and Board of Directors, with Lazard acting as lead financial advisor.

The committee considered a range of options and previously oversaw the sale of the company’s Trelegy royalty interest for $225m in 2025, as well as scenario planning for clinical outcomes and a company restructuring.

Theravance Biopharma CEO Rick Winningham said: “We are proud of what Theravance Biopharmahas accomplished over the past several years, including the successful development and commercialisation of Yupelri, which has become an important treatment option for patients with COPD \[chronic obstructive pulmonary disease\].

“Additionally, we continue to explore whether there is a path to bring ampreloxetine to patients with MSA \[multiple system atrophy\] and nOH \[neurogenic orthostatic hypotension\], a community with high unmet medical need. Our achievements would not have been possible without the dedication and commitment of our team, whose contributions helped the company reach this outcome and make a difference for patients around the world.”

The boards of both companies have unanimously approved the agreement, which remains subject to shareholder and regulatory approvals and is expected to close during the second half of 2026.

Financing includes a $350m note from OMERS Life Sciences and cash from both Zymeworks and Theravance Biopharma’s expected balances at closing.

In June 2025, China’s National Medical Products Administrationconditionally approvedZymeworks’ zanidatamab for treating individuals with prior treated, unresectable or metastatic human epidermal growth factor receptor 2-positive biliary tract cancer.

The post Zymeworks agrees to buy Theravance Biopharma for $929m appeared first on Pharmaceutical Business review.

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