Theravance Biopharma shareholders to receive $17.00 per share in cash, representing an equity value of approximately $929 million

Theravance Biopharma 的股东将获得每股 17.00 美元的现金，相当于约 9.29 亿美元的股权价值

Theravance Biopharma shareholders to receive a contingent value right (CVR) entitling them to 80% of net proceeds from any future license, divestiture or other monetization of ampreloxetine within the next ten years

Theravance Biopharma 的股东将获得一项或有价值权（CVR），使其有权获得未来十年内安普雷洛西汀（ampreloxetine）的任何许可、剥离或其他货币化交易净收益的 80%。

Transaction follows a comprehensive strategic alternatives review conducted by the Company's Strategic Review Committee and Board of Directors

本次交易是在公司战略审查委员会和董事会开展全面的战略替代方案评估之后进行的。

Transaction expected to close in the second half of 2026, subject to shareholder approval and customary closing conditions

预计交易将于2026年下半年完成，前提是获得股东批准并满足惯例交割条件

DUBLIN

都柏林

,

，

June 29, 2026

2026年6月29日

/PRNewswire/ -- Theravance Biopharma, Inc. ('Theravance Biopharma' or the 'Company') (Nasdaq:

/PRNewswire/ -- Theravance Biopharma, Inc.（“Theravance Biopharma”或“公司”）（纳斯达克：

TBPH

TBPH

) today announced that it has entered into a definitive agreement pursuant to which Zymeworks Inc. will acquire the Company for $17.00 per share in cash, representing an equity value of approximately $929 million. In addition to the cash consideration, Theravance Biopharma shareholders will receive a CVR entitling them to 80% of net proceeds realized from any future license, divestiture or other monetization of ampreloxetine over the next ten years, with the remaining 20% to Zymeworks..

）今日宣布，其已签订一项最终协议，根据该协议，Zymeworks Inc. 将以每股17.00美元的现金收购本公司，股权价值约为9.29亿美元。除现金对价外，Theravance Biopharma的股东还将获得一项或有价值权（CVR），使其有权在未来十年内从ampreloxetine的任何未来许可、剥离或其他货币化交易中获得的净收益中享有80%的份额，其余20%归Zymeworks所有。

The price per share represents a premium of 22% to the Company's closing stock price on March 3, 2026, the day the Company announced topline results from the ampreloxetine Phase 3 CYPRESS study, and a premium of 10% to Theravance Biopharma's volume weighted average price since the same date.

每股价格较公司于2026年3月3日（即公司公布安普雷洛西汀CYPRESS III期研究顶线结果之日）的收盘股价溢价22%，较Theravance Biopharma自同日起的成交量加权平均股价溢价10%。

The transaction is the culmination of a comprehensive strategic review process conducted by the Company's Strategic Review Committee and Board of Directors, which considered a broad range of alternatives. Since its formation in 2024, the Strategic Review Committee, working with Lazard, has overseen a series of actions to maximize shareholder value, including the monetization of the Company's TRELEGY.

本次交易是公司战略审查委员会和董事会开展的全面战略审查过程的最终成果，该过程考量了广泛的各种备选方案。自2024年成立以来，战略审查委员会与拉扎德（Lazard）合作，监督实施了一系列旨在最大化股东价值的行动，包括对公司旗下TRELEGY产品的货币化。

®

®

royalty interest for $225 million in 2025, scenario planning for different potential outcomes for the CYPRESS Phase 3 study, and the evaluation of a broad range of strategic alternatives leading to today's transaction. During this period, Theravance Biopharma also implemented an organizational restructuring..

2025年以2.25亿美元出售特许权使用费权益，针对CYPRESS III期研究的不同潜在结果进行情景规划，并评估广泛的战略替代方案，从而促成了今日的交易。在此期间，Theravance Biopharma还实施了组织重组。

'After evaluating a broad range of strategic alternatives, the Strategic Review Committee and full Board of Directors determined that this transaction achieves the greatest value for Theravance Biopharma shareholders,' said Susannah Gray, independent Chair of the Board and Chair of the Strategic Review Committee.

“在评估了广泛的战略备选方案后，战略审查委员会及全体董事会成员认定，此次交易将为Theravance Biopharma股东实现最大价值。”董事会独立主席兼战略审查委员会主席苏珊娜·格雷表示。

'We believe this transaction recognizes the value of our assets, including our interest in YUPELRI.

我们相信，本次交易认可了我们资产的价值，包括我们在YUPELRI中的权益。

®

®

, the potential TRELEGY

，潜在的TRELEGY

®

®

milestone payment, a robust balance sheet and Irish tax attributes. In addition to delivering immediate cash to shareholders, this transaction also preserves the opportunity for them to benefit from any future value that may be realized from ampreloxetine through the contingent value right.'

里程碑付款、稳健的资产负债表以及爱尔兰税收属性。此外，在向股东提供即时现金的同时，该交易还保留了他们通过或有价值权从安普雷洛西汀未来可能实现的价值中受益的机会。

'We are proud of what Theravance Biopharma has accomplished over the past several years, including the successful development and commercialization of YUPELRI

“我们为Theravance Biopharma在过去几年中取得的成就感到自豪，包括YUPELRI的成功开发和商业化。”

®

®

, which has become an important treatment option for patients with COPD. Additionally, we continue to explore whether there is a path to bring ampreloxetine to patients with MSA and nOH, a community with high unmet medical need,' said Rick E Winningham, Chief Executive Officer of Theravance Biopharma.

“这已成为慢性阻塞性肺疾病（COPD）患者的重要治疗选择。此外，我们继续探索是否有可能将安普洛西汀带给多系统萎缩（MSA）和神经源性体位性低血压（nOH）患者，这一群体存在巨大的未满足医疗需求。”Theravance Biopharma 首席执行官 Rick E. Winningham 表示。

'Our achievements would not have been possible without the dedication and commitment of our team, whose contributions helped the Company reach this outcome and make a difference for patients around the world.'.

“如果没有我们团队的奉献和承诺，我们的成就将不可能实现。他们的贡献帮助公司取得了这一成果，并为全球患者带来了积极影响。”

Transaction Details

交易详情

Under the terms of the definitive agreement, Theravance Biopharma shareholders will receive $17.00 in cash for each outstanding ordinary share of Theravance Biopharma. Theravance Biopharma shareholders will also receive a contingent value right entitling them to 80% of net proceeds realized from any future license, divestiture or other monetization transaction involving ampreloxetine over the next ten years, with the remaining 20% to Zymeworks.

根据最终协议的条款，Theravance Biopharma的股东将为每股已发行的普通股获得17.00美元的现金。此外，这些股东还将获得一项或有价值权，使其有权在未来十年内从涉及ampreloxetine的任何许可、剥离或其他变现交易中实现净收益的80%，剩余的20%归Zymeworks所有。

In addition, if a license, divestiture or monetization transaction involving ampreloxetine is not executed by the closing, a designee from Theravance Biopharma will explore potential opportunities to license, divest or otherwise monetize ampreloxetine on behalf of Zymeworks for 12-months following closing..

此外，如果在交割时未能执行涉及安普雷洛西汀的许可、剥离或变现交易，Theravance Biopharma 将指定一名代表，在交割后的12个月内代表 Zymeworks 探索许可、剥离或以其他方式变现安普雷洛西汀的潜在机会。

The Strategic Review Committee, comprised solely of independent directors, unanimously recommended the transaction to the Board of Directors. The Board of Directors unanimously approved the transaction and recommends that Theravance Biopharma shareholders vote in favor of the transaction.

由独立董事组成的战略审查委员会一致向董事会推荐该交易。董事会一致批准该交易，并建议Theravance Biopharma的股东投票支持该交易。

The transaction is expected to close in the second half of 2026, subject to approval by Theravance Biopharma shareholders, receipt of applicable regulatory approvals and satisfaction of other customary closing conditions.

预计该交易将于2026年下半年完成，前提是获得Theravance Biopharma股东的批准、收到适用的监管批准以及满足其他惯常的交割条件。

Advisors

顾问

Lazard is serving as lead financial advisor to Theravance Biopharma. Evercore is also serving as financial advisor to Theravance Biopharma. Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal counsel to Theravance Biopharma.

Lazard 担任 Theravance Biopharma 的首席财务顾问。Evercore 亦担任 Theravance Biopharma 的财务顾问。Skadden, Arps, Slate, Meagher & Flom LLP 担任 Theravance Biopharma 的法律顾问。

Kirkland & Ellis LLP is serving as legal counsel to Zymeworks. Matheson provided tax counsel to Zymeworks. TD Cowen served as a financial advisor to Zymeworks on the OMERS royalty note. MTS Health Partners provided financial advice to Zymeworks.

柯克兰·埃利斯律师事务所（Kirkland & Ellis LLP）担任Zymeworks的法律顾问。Matheson为Zymeworks提供税务法律咨询。TD Cowen就OMERS特许权使用费票据事宜担任Zymeworks的财务顾问。MTS Health Partners为Zymeworks提供财务咨询。

About Theravance Biopharma

关于Theravance Biopharma

Theravance Biopharma, Inc.'s focus is to deliver

Theravance Biopharma, Inc. 的专注点是提供

Medicines that Make a Difference

带来改变的药品

®

®

in people's lives. In pursuit of its purpose, Theravance Biopharma leverages decades of expertise, which has led to the development of FDA-approved YUPELRI

在人们的生活中。Theravance Biopharma 为实现其目标，凭借数十年的专业知识，开发了获得美国食品药品监督管理局（FDA）批准的 YUPELRI。

®

®

(revefenacin) inhalation solution indicated for the maintenance treatment of patients with chronic obstructive pulmonary disease (COPD). The Company is committed to creating/driving shareholder value.

（雷夫米那辛）吸入溶液，适用于慢性阻塞性肺疾病（COPD）患者的维持治疗。公司致力于创造/提升股东价值。

For more information, please visit

更多信息，请访问

www.theravance.com

www.theravance.com

.

。

THERAVANCE BIOPHARMA

特瓦兰斯生物制药

®

®

, THERAVANCE

, 泰华施

®

®

and the Cross/Star logo are registered trademarks of the Theravance Biopharma group of companies (in the U.S. and certain other countries).

以及十字/星形标志是Theravance Biopharma集团公司（在美国及某些其他国家）的注册商标。

YUPELRI

尤佩尔瑞

®

®

is a registered trademark of Viatris Specialty LLC. Trademarks, trade names or service marks of other companies appearing on this press release are the property of their respective owners. Theravance Biopharma and Viatris Inc., together with their respective affiliates, have established a strategic collaboration to develop and commercialize nebulized revefenacin products for COPD and other respiratory diseases..

是 Viatris Specialty LLC 的注册商标。本新闻稿中出现的其他公司的商标、商号或服务标志均归其各自所有者所有。Theravance Biopharma 与 Viatris Inc. 及其各自的关联公司已建立战略合作关系，共同开发和商业化用于慢性阻塞性肺疾病（COPD）及其他呼吸系统疾病的雾化吸入用 revefenacin 产品。

Important Additional Information and Where to Find It

重要补充信息及查阅方式

In connection with the proposed transaction involving Theravance Biopharma, Inc. (the 'Company') and Zymeworks Inc. ('Parent'), the Company intends to file a definitive proxy statement on Schedule 14A (the 'Definitive Proxy Statement') with the United States Securities and Exchange Commission ('SEC').

就Theravance Biopharma, Inc.（“公司”）与Zymeworks Inc.（“母公司”）拟议的交易而言，公司打算向美国证券交易委员会（“SEC”）提交一份 definitive proxy statement（最终委托书声明），格式为Schedule 14A（“最终委托书声明”）。

The Definitive Proxy Statement and proxy card will be delivered to the shareholders of the Company in advance of the extraordinary general meeting relating to the proposed transaction. This communication is not a substitute for the Definitive Proxy Statement or any other document that may be filed by the Company with the SEC.

最终委托书及委托投票卡将在与拟议交易相关的特别股东大会召开之前送达公司股东。本沟通文件不能替代最终委托书或公司可能向美国证券交易委员会（SEC）提交的任何其他文件。

THE COMPANY'S SHAREHOLDERS AND INVESTORS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT IN ITS ENTIRETY WHEN IT BECOMES AVAILABLE AND ANY OTHER DOCUMENTS FILED BY EACH OF THE COMPANY AND PARENT WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION OR INCORPORATED BY REFERENCE THEREIN BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND THE PARTIES TO THE PROPOSED TRANSACTION.

敦促本公司股东和投资者在最终代理声明发布后阅读全文，并阅读本公司及母公司向美国证券交易委员会提交的与拟议交易相关的或由此引用的任何其他文件，因为这些文件包含或将包含有关拟议交易及交易各方的重要信息。

Investors and shareholders will be able to obtain a free copy of the Definitive Proxy Statement and such other documents containing important information about the Company and Parent, once such documents are filed with the SEC, through the website maintained by the SEC at .

投资者和股东可在相关文件向美国证券交易委员会（SEC）备案后，通过SEC维护的网站免费获取《最终委托书声明》以及包含有关公司及母公司重要信息的其他文件。

www.sec.gov

www.sec.gov

. The Company and Parent will make available free of charge at the Company's website at

。本公司及母公司将在本公司网站上免费提供

https://investor.theravance.com/sec-filings

https://investor.theravance.com/sec-filings

and at Parent's website at

以及在母公司的网站上，位于

https://ir.zymeworks.com

https://ir.zymeworks.com

, respectively, copies of materials they file with, or furnish to, the SEC.

分别为其向美国证券交易委员会（SEC）提交或提供的材料副本。

Participants in the Solicitation

招标参与者

The Company and its directors, executive officers and certain employees may be deemed to be participants in the solicitation of proxies from the shareholders of the Company in connection with the proposed transaction. Information regarding the Company's directors and executive officers is contained in its definitive proxy statement for the 2026 annual meeting of shareholders, which was filed with the SEC on April 28, 2026, including under the headings 'Proposal One: Election of Directors,' 'Proposal Three: Advisory Vote on Executive Compensation,' 'Corporate Governance,' 'Executive Officers,' 'Executive Compensation' and 'Security Ownership of Certain Beneficial Owners and Management.' To the extent holdings of the Company's securities by its directors or executive officers have changed since the amounts set forth in such proxy statements, such changes have been or will be reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Beneficial Ownership on Form 4 filed with the SEC.

本公司及其董事、高级管理人员和某些员工可能被视为在与拟议交易相关的向公司股东征集代理权的过程中参与方。有关本公司董事和高级管理人员的信息包含在其于2026年4月28日向美国证券交易委员会（SEC）提交的2026年度股东大会最终代理声明中，包括在“提案一：选举董事”、“提案三：关于高管薪酬的咨询投票”、“公司治理”、“高级管理人员”、“高管薪酬”以及“某些受益所有者和管理层的安全所有权”等标题下。如果自该代理声明中列出的金额以来，本公司董事或高级管理人员持有的本公司证券发生变化，则这些变化已在或将在向SEC提交的Form 3初始受益所有权声明或Form 4受益所有权声明中反映。

Additional information regarding the identity of potential participants, and their direct and indirect interests, by security holdings or otherwise, will be included in the Definitive Proxy Statement relating to the proposed transaction when it is filed with the SEC. These documents (when available) may be obtained free of charge from the SEC's website at .

关于潜在参与者的身份及其通过证券持有或其他方式产生的直接和间接利益的更多信息，将在向美国证券交易委员会（SEC）提交的与拟议交易相关的最终委托书声明中予以包含。这些文件（在可用时）可以从美国证券交易委员会的网站免费获取。

www.sec.gov

www.sec.gov

and the Company's website at

以及公司网站

www.theravance.com

www.theravance.com

.

。

Cautionary Statement Regarding Forward-Looking Statements

关于前瞻性陈述的警示性声明

This communication includes 'forward-looking statements' within the meaning of federal securities laws, including safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.

本通讯包含联邦证券法律意义上的“前瞻性陈述”，包括1995年《私人证券诉讼改革法》的安全港条款、经修订的1933年《证券法》第27A条以及经修订的1934年《证券交易法》第21E条。

Such forward-looking statements involve risks, uncertainties, and assumptions. All statements in this report, other than statements of historical facts, including statements regarding our strategy, future operations, future financial position, future revenues, projected costs, prospects, plans, intentions, designs, expectations, and objectives are forward-looking statements.

此类前瞻性陈述涉及风险、不确定性和假设。本报告中除历史事实陈述外的所有陈述，包括有关我们的战略、未来运营、未来财务状况、未来收入、预计成本、前景、计划、意图、规划、预期和目标的陈述，均为前瞻性陈述。

The words 'aim,' 'anticipate,' 'assume,' 'believe,' 'contemplate,' 'continue,' 'could,' 'designed,' 'developed,' 'drive,' 'estimate,' 'expect,' 'forecast,' 'goal,' 'indicate,' 'intend,' 'may,' 'mission,' 'opportunities,' 'plan,' 'possible,' 'potential,' 'predict,' 'project,' 'pursue,' 'represent,' 'seek,' 'suggest,' 'should,' 'target,' 'will,' 'would,' and similar expressions (including the negatives thereof) are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.

“目标”、“预期”、“假设”、“相信”、“考虑”、“继续”、“可能”、“设计”、“开发”、“推动”、“估计”、“期望”、“预测”、“目标”、“表明”、“打算”、“可以”、“使命”、“机会”、“计划”、“可能的”、“潜在的”、“预言”、“规划”、“追求”、“代表”、“寻求”、“建议”、“应该”、“指标”、“将”、“会”以及类似表达（包括其否定形式）旨在识别前瞻性陈述，尽管并非所有前瞻性陈述都包含这些识别词。

These statements reflect our current views with respect to future events or our future financial performance, are based on assumptions, projections, estimates, expectations and beliefs, and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.

这些陈述反映了我们对未来事件或未来财务表现的当前观点，基于假设、预测、估计、预期和信念，并涉及已知和未知的风险、不确定性及其他因素，这些因素可能导致我们的实际结果、表现或成就与前瞻性陈述中明示或暗示的任何未来结果、表现或成就存在重大差异。

No forward-looking statement can be guaranteed. Actual results may differ materially from current expectati.

任何前瞻性陈述均无法得到保证。实际结果可能与当前预期存在重大差异。

Contact:

联系方式：

[email protected]

[email protected]

650-808-4045

650-808-4045

SOURCE Theravance Biopharma, Inc.

来源：Theravance Biopharma, Inc.

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