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Zymeworks to acquire Theravance Biopharma for $17 per share

PUBLIC · ZYMEAug 15, 2026•about 12 hours ago

Acquiring Company

Zymeworks

Acquired Company

Theravance Biopharma

Vancouver

DublinBiotechnologyBiotechnologyHealth Care

Description

Zymeworks Inc. has agreed to acquire Theravance Biopharma Inc. for $17 per share, valuing the deal at approximately $929 million. The acquisition is subject to scrutiny by an investor-rights law firm investigating the fairness of the offer to Theravance shareholders. Theravance's board recommends the transaction, highlighting its premium to recent share prices. Shareholders may also benefit from a contingent value right linked to future earnings from ampreloxetine.

Company Information

Company

Zymeworks

Location

114 E 4th Avenue, Suite 800

Vancouver, British Columbia, Canada

About

Zymeworks Inc. (Nasdaq: ZYME) is a global biotechnology company committed to the discovery, development, and commercialization of novel, multifunctional biotherapeutics. Zymeworks' mission is to make a meaningful difference for people impacted by difficult-to-treat cancers and other serious diseases. Zymeworks' complementary therapeutic platforms and fully integrated drug development engine provide the flexibility and compatibility to precisely engineer and develop highly differentiated antibody-based therapeutic candidates. Zymeworks engineered and developed zanidatamab, a HER2-targeted bispecific antibody using Zymeworks' proprietary AzymetricTM technology. Zymeworks has entered into separate agreements with BeiGene, Ltd. (BeiGene) and Jazz Pharmaceuticals Ireland Limited (Jazz), granting each of BeiGene and Jazz with exclusive rights to develop and commercialize zanidatamab in different territories. Zanidatamab is currently being evaluated in global Phase 1, Phase 2, and Phase 3 clinical trials, including certain ongoing pivotal clinical trials as a treatment for patients with HER2-expressing cancers. Zymeworks' next clinical candidate, zanidatamab zovodotin (ZW49), is a HER2-targeted bispecific antibody-drug conjugate (ADC) developed using Zymeworks' proprietary AzymetricTM and ZymeLinkTM Auristatin technologies. Zanidatamab zovodotin is being evaluated in a Phase 2 clinical trial for patients with HER2-expressing non-small cell lung cancer. Zymeworks is also advancing a deep pipeline of product candidates based on its experience and capabilities in both ADC and multispecific antibodies (MSAT), including planned IND filings for ZW171 and ZW191 in 2024. In addition to Zymeworks' wholly owned pipeline, its therapeutic platforms have been further leveraged through strategic partnerships with global biopharmaceutical companies. For information about Zymeworks, visit www.zymeworks.com and follow @ZymeworksInc on X.

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Frequently asked

Who acquired Theravance Biopharma?

Theravance Biopharma was acquired by Zymeworks, based in Vancouver. The deal was reported on August 15, 2026. Zymeworks Inc. (Nasdaq: ZYME) is a global biotechnology company committed to the discovery, development, and commercialization of novel, multifunctional biotherapeutics. Zymeworks is publicly traded (ZYME) and operates in Biotechnology.

When did Zymeworks acquire Theravance Biopharma?

Zymeworks's acquisition of Theravance Biopharma was reported on August 15, 2026. Zymeworks Inc. has agreed to acquire Theravance Biopharma Inc. for $17 per share, valuing the deal at approximately $929 million. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.

What does Theravance Biopharma do?

Theravance Biopharma, Inc.'s focus is to deliver Medicines that Make a Difference® in people's lives. It is publicly traded (TBPH), operating in Biotechnology, and is based in Dublin.