Theravance Biopharma Inc., headquartered in Dublin, priced an offering of 5.5m ordinary shares at $27 each on 11 February to gross $148.5m before overallotments. Theravance has one commercial product – the chronic obstructive pulmonary disease (COPD) treatment Yupelri (revefenacin) in partnership with Mylan NV – and economic interests in various programs originating from Inoviva Inc. (formerly Theravance Inc., which spun out Theravance Biopharma in 2014). (Also see "Mylan/Theravance’s Yupelri Will Launch Late This Year To Address COPD Niche " - Scrip, 12 November, 2018.) The company also has a portfolio of preclinical through Phase III programs, including two gut-selective JAK inhibitors that it is developing in partnership with Janssen Biotech Inc. under a February 2018 deal. (Also see "Theravance Banks $100m As J&J Bets Big On IBD Drug" - Scrip, 7 February, 2018.) More recently, Theravance Biopharma out-licensed a portfolio of skin-selective JAK inhibitors to Pfizer Inc. in December. (Also see "Deal Watch: Pfizer Licenses Skin-Targeted JAK Inhibitor Portfolio From Theravance" - Scrip, 2 January, 2020.)

Finance Watch: Revolution Medicines Continues 2020’s Post-IPO Trend

More from Financing

More from Business