Zymeworks to acquire Theravance Biopharma for $929M, gaining rights to COPD drug Yupelri's US profit share and ex-US royalties generating ~$60M annually.

The acquisition by royalty management company Zymeworks follows a "strategic review" triggered by the failure of a drug for a type of low blood pressure.

THERAVANCE BIOPHARMA ENTERS INTO DEFINITIVE AGREEMENT TO BE ACQUIRED BY ZYMEWORKS FOR $17.00 PER SHARE IN CASH PLUS A CONTINGENT VALUE RIGHT

Zymeworks to acquire Theravance Biopharma for $929M, gaining rights to COPD drug Yupelri's US profit share and ex-US royalties generating ~$60M annually.

Zymeworks will acquire Theravance Biopharma for $929 million, adding YUPELRI cash flows and expanding its portfolio.

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…