Zymeworks to Acquire Theravance Biopharma for $929 Million

Zymeworks entered into a definitive agreement to acquire Theravance Biopharma for $17.00 per share in cash, valuing the transaction at approximately $929 million. Under the deal, Theravance Biopharma shareholders also receive a contingent value right (CVR) entitling them to 80% of net proceeds from any future monetization of ampreloxetine over the next ten years.