BioCentury
ARTICLE | Company News

Theravance splitting up

April 26, 2013 1:04 AM UTC

Theravance Inc. (NASDAQ:THRX) announced plans late Thursday to split into two publicly traded companies to separate its late-stage, partnered respiratory assets from its R&D. One company -- Royalty Management Co. -- will manage all development and commercial responsibilities plus potential royalty revenues for long-acting adrenergic receptor beta 2 agonist (LABA) products partnered with GlaxoSmithKline plc (LSE:GSK; NYSE:GSK). The products, which are in development for asthma and chronic obstructive pulmonary disease (COPD), are Relvar/ Breo fluticasone furoate/vilanterol; Anoro Ellipta umeclidinium bromide/vilanterol; and vilanterol monotherapy. Breo and Anoro Ellipta are both under review in Europe and the U.S.

The other company -- Theravance Biopharma -- will be capitalized with about $300 million to focus on discovery and R&D of small molecules, though the company also will house Theravance's only marketed drug, antibiotic Vibativ telavancin. Its pipeline will include TD-1211, an oral peripheral mu opioid receptor antagonist that has completed a Phase IIb study to treat opioid-induced constipation (OIC); and TD-9855, a norepinephrine and serotonin reuptake inhibitor (NSRI) in Phase II testing for ADHD and fibromyalgia. The company will also develop two COPD programs partnered with GSK: GSK961081, a bifunctional muscarinic receptor antagonist and beta 2 agonist (MABA) which is slated to start Phase III testing as monotherapy and in combination with a corticosteroid this year; and umeclidinium bromide/vilanterol/fluticasone furoate which is in Phase I testing. ...