Maples Group Advises Theravance Biopharma on Acquisition by Zymeworks
A multi-disciplinary team acted as Cayman Islands counsel to biopharmaceutical company Theravance Biopharma, Inc in connection with its acquisition by Zymeworks Inc.
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Maples and Calder, the Maples Group’s law firm, is pleased to have acted as Cayman Islands counsel to biopharmaceutical company Theravance Biopharma, Inc. (“Theravance”) in connection with its acquisition by Zymeworks Inc (“Zymeworks”).
Under the terms of the acquisition agreement, Zymeworks would acquire all outstanding equity from Theravance for US$17 per share, representing a total equity value of approximately US$929 million, together with contingent value right (CVR), subject to customary adjustments and payable at closing.
The transaction follows a comprehensive strategic review process and is expected to close in the second half of 2026, subject to shareholder approval and customary closing conditions.
A team from the Maples Group’s Cayman Islands Corporate practice advised on all Cayman Islands legal aspects of the merger and acquisition transaction. The team was comprised of Partner Michael Lockwood, with support from Associates Anna McIntyre and Olivia Sutherland as well as Partners Caroline Moran and Malachi Sweetman, and Associate Adrian Davey from the Dispute Resolution & Insolvency team.
This transaction demonstrates the continued strategic interest in high-quality life sciences and biotechnology businesses. We are pleased to have supported our long-standing client Theravance on this significant transaction
