Zymeworks acquires struggling Theravance for $929M

Four months after Theravance Biopharma shut down its R&D unit, laid | Four months after Theravance Biopharma shut down its R&D unit, laid off half its staff and signaled it was up for sale, the Dublin-based company has entered into an agreement to be bought out by Zymeworks for $929 million plus a contingent value right.