Theravance Biopharma entered into an Agreement and Plan of Merger with Zymeworks under which Zymeworks will acquire Theravance for $17.00 per share in cash plus a contingent value right (CVR). Each CVR entitles holders to potential cash tied to ampreloxetine, including 80% of net licensing proceeds, a $50 million milestone on first commercial sale in select markets, and 10% of net sales for a defined period. The deal requires HSR clearance and approval by at least two-thirds of voting shareholders, with closing expected in the second half of 2026. The agreement includes reciprocal $32.5 million termination fees under certain conditions.
Agreement details:
- Agreement type: Agreement and Plan of Merger
- Counterparty: Zymeworks
- Signed / Effective: Jun 28 2026 / N/A
- Duration / Termination: Until closing
- Reason: Provide immediate cash and potential CVR upside to shareholders
Original SEC Filing:
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