M&A - Theravance Biopharma, Inc.

Form Type: 8-K

Filing Date: 2025-06-02

Corporate Action: Acquisition

Type: New

Accession Number: 000110465925055100

Filing Summary: On May 30, 2025, Theravance Biopharma, Inc. (TBPH) entered into an Assignment Agreement with GlaxoSmithKline Intellectual Property Development Limited and Glaxo Group Limited whereby TBPH assigned its rights to the TBPH Outer Years Royalty to GSK for $225 million. This transaction was concluded simultaneously with the signing of the agreement. Previously, TBPH sold its interests in Theravance Respiratory Company, LLC to Royalty Pharma in 2022, which included a future royalty structure for TBPH. The agreement outlines a complex relationship involving royalties expected to begin in 2029 and 2031 based on various conditions related to assigned collaboration products. The company also issued a press release on June 2, 2025, regarding the Assignment Agreement, which is attached as Exhibit 99.1 in this report.