The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.

We use cookies to improve your experience and serve personalized ads.

By clicking Accept, you consent to our use of advertising cookies. See our Privacy Policy for details.

Mergers & AcquisitionsMedium•29 June 2026•

1 min read

Zymeworks to Acquire Theravance Biopharma for $929M

Key Facts

1Zymeworks Inc. (Nasdaq: ZYME) has entered into a definitive agreement to acquire Theravance Biopharma, Inc. (Nasdaq: TBPH) for $17.00 per share in cash.

2The transaction represents an equity value of approximately $929 million and includes a contingent value right (CVR) entitling shareholders to 80% of net proceeds from ampreloxetine monetization.

In a move that expands its respiratory portfolio, Zymeworks (ZYME) has entered into a definitive agreement to acquire Theravance Biopharma (TBPH) for $17.00 per share in cash, according to the official statement. The deal represents an equity value of approximately $929 million and includes a contingent value right (CVR) entitling Theravance shareholders to 80% of net proceeds from the monetization of ampreloxetine. The transaction is expected to close in the second half of 2026, subject to shareholder approval and customary closing conditions.

Theravance shares closed at $17.63 on June 26, 2026, slightly above the offer price, while Zymeworks ended at $24.15 on the same date, per market data. The acquisition brings YUPELRI, a COPD therapy, into Zymeworks' partnered portfolio, alongside the potential upside from ampreloxetine via the CVR.

Investors are focused on the expected closing in H2 2026, pending regulatory and shareholder approvals. The market will also watch for any competing bids and progress on ampreloxetine monetization, which could unlock additional value for CVR holders. Zymeworks shares will be in focus as the market assesses the strategic fit and financing structure.