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Finance Watch: Theravance Eliminates Debt In $1.1bn Trelegy Royalty Sell-Off

Also, Ultragenyx Leverages Crysvita Royalties In $500m Deal

 
• By Mandy Jackson

Public Company Financings: Theravance sold its 85% interest in Trelegy royalties from GSK and Innoviva sold its 15% interest for up to $1.8bn in total. Also, ProKidney grossed $597m from its SPAC merger, Pliant raised $200m in a post-Phase IIa offering and Marinus earned $110m in a PRV sale.

Finance Watch Public Company
• Source: Alamy

Theravance Biopharma Inc. will eliminate debt from its balance sheet and improve its cash balance through the sale of its interest in Theravance Respiratory Company LLC (TRC) – representing an 85% share of sale-based royalties on worldwide sales of GSK plc’s Trelegy Ellipta – to Royalty Pharma plc for $1.1bn in cash up front plus another $450m based on the achievement of sales-based milestones.

Innoviva, Inc

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