Theravance closes $400 million private placement
Ireland-incorporated Theravance Biopharma (Nasdaq: TBPH) has closed a $400 million private financing round, with fixed rate term notes secured by expected royalties from Trelegy Ellipta (fluticasone furoate/umeclidinium/vilanterol).
The firm has worked together with UK pharma major GlaxoSmithKline (LSE: GSK) for many years to develop and commercialize the product.
The firm said it has used part of the money to repay in full the remaining outstanding balance of an existing $250 million debt commitment.
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