Zymeworks expands beyond cancer with $929 million Theravance acquisition
Bellevue-based clinical-stage biotech company Zymeworks is acquiring Theravance Biopharma in a $929 million deal, expanding beyond oncology into respiratory disease.
The acquisition adds Yupelri, an FDA-approved treatment for chronic obstructive pulmonary disease (COPD) to Zymeworks’ portfolio and marks an important step in broadening the company’s commercial footprint. Earlier this year, Theravance noted that it had been looking at alternate options for the company after a failed late-stage drug trial. Yupelri has continued to demonstrate strong commercial momentum.
This acquisition highlights the continued strategic growth of Zymeworks and reinforces the Pacific Northwest’s role in advancing innovative life sciences companies through business expansion and portfolio diversification.