Theravance Biopharma Announces Opening of Company's New Corporate Office in Dublin, Ireland
DUBLIN, Nov. 1, 2017 /PRNewswire/ -- Theravance Biopharma, Inc. (NASDAQ: TBPH) ("Theravance Biopharma") today announced the opening of a new corporate office in Dublin, further establishing the Company's presence in Ireland. The Company plans to expand its Dublin employee base by hiring 30 highly-skilled professionals over the next two years in areas such as clinical development, finance, and technical operations. An Tánaiste and Minister for Business, Enterprise and Innovation Frances Fitzgerald TD and other IDA Ireland executives joined members of the Theravance Biopharma board of directors and employees at the opening ceremony.
"The opening of our new office in Dublin demonstrates the increasingly important role that Theravance Biopharma plays in the global biopharmaceutical business, as we work with purpose to translate our science into therapeutics that can help patients around the world," said Rick E Winningham, Chairman and Chief Executive Officer.
Commented Dr. Ann Brady, President, Theravance Biopharma Ireland, "This important expansion within Ireland provides an opportunity to tap into the extensive biopharmaceutical talent pool within the country. Our Irish team looks forward to helping to build on Theravance Biopharma's legacy of scientific expertise, advance our pipeline of potential therapies in multiple disease areas, and ultimately change the way serious diseases are treated."
"The pharmaceutical industry makes a huge contribution to the Irish economy in terms of jobs and manufacturing exports, and is one of our fastest growing sectors," said An Tánaiste, Frances Fitzgerald. "My department through IDA Ireland is keen to attract new dynamic pharmaceutical companies like Theravance Biopharma who will broaden the reach of the industry here and generate new opportunities. I look forward to a mutually beneficial partnership developing."
"Theravance Biopharma is a very welcome addition to the biopharmaceutical operations in Ireland who have established highly specialized technical, financial and commercial operations throughout the country," said Mary Buckley, Executive Director, IDA Ireland. "IDA Ireland looks forward to the Company's further growth over the coming years."
About Theravance Biopharma
Theravance Biopharma, Inc. is a diversified biopharmaceutical company with the core purpose of creating medicines that help improve the lives of patients suffering from serious illness.
Our pipeline of internally discovered product candidates includes potential best-in-class medicines to address the unmet needs of patients being treated for serious conditions primarily in the acute care setting. VIBATIV(®) (telavancin), our first commercial product, is a once-daily dual-mechanism antibiotic approved in the U.S., Europe and certain other countries for certain difficult-to-treat infections. Revefenacin (TD-4208) is a long-acting muscarinic antagonist ("LAMA") being developed as a potential once-daily, nebulized treatment for chronic obstructive pulmonary disease ("COPD"). Our neprilysin ("NEP") inhibitor program is designed to develop selective NEP inhibitors for the treatment of a range of major cardiovascular and renal diseases, including acute and chronic heart failure, hypertension and chronic kidney diseases such as diabetic nephropathy. Our research efforts are focused in the areas of inflammation and immunology, with the goal of designing medicines that provide targeted drug delivery to tissues in the lung and gastrointestinal tract in order to maximize patient benefit and minimize risk. The first program to emerge from this research is designed to develop intestinally restricted pan-Janus kinase ("JAK") inhibitors for the treatment of a range of inflammatory intestinal diseases.
In addition, we have an economic interest in future payments that may be made by Glaxo Group Limited or one of its affiliates (GSK) pursuant to its agreements with Innoviva, Inc. relating to certain drug development programs, including Trelegy Ellipta (the combination of fluticasone furoate, umeclidinium, and vilanterol in a single ELLIPTA(®) inhaler, previously referred to as the Closed Triple), currently approved in the US for the treatment of appropriate COPD patients and in development for the treatment of COPD in several other countries. The product is also currently in development for the treatment of asthma.
For more information, please visit www.theravance.com.
THERAVANCE(®), the Cross/Star logo, and VIBATIV(®) are registered trademarks of the Theravance Biopharma group of companies.
This press release contains certain "forward-looking" statements as that term is defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things, statements relating to goals, plans, objectives, expectations and future events. Theravance Biopharma intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Examples of such statements include statements relating to: the Company's strategies, plans and objectives, the Company's regulatory strategies and timing and results of clinical studies, the potential benefits and mechanisms of action of the Company's product and product candidates and the Company's expectations for product candidates through development, potential regulatory approval and commercialization. These statements are based on the current estimates and assumptions of the management of Theravance Biopharma as of the date of the press release and are subject to risks, uncertainties, changes in circumstances, assumptions and other factors that may cause the actual results of Theravance Biopharma to be materially different from those reflected in the forward-looking statements. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, among others, risks related to: delays or difficulties in commencing or completing clinical studies, the potential that results from clinical or non-clinical studies indicate the Company's product candidates are unsafe or ineffective, the feasibility of undertaking future clinical trials for our product candidates based on FDA policies and feedback, dependence on third parties to conduct clinical studies, delays or failure to achieve and maintain regulatory approvals for product candidates, risks of collaborating with or relying on third parties to discover, develop and commercialize products, risks associated with establishing and maintaining sales, marketing and distribution capabilities with appropriate technical expertise and supporting infrastructure. Other risks affecting Theravance Biopharma are described under the heading "Risk Factors" contained in Theravance Biopharma's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (SEC) on August 9, 2017. In addition to the risks described above and in Theravance Biopharma's other filings with the SEC, other unknown or unpredictable factors also could affect Theravance Biopharma's results. No forward-looking statements can be guaranteed and actual results may differ materially from such statements. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Theravance Biopharma assumes no obligation to update its forward-looking statements on account of new information, future events or otherwise, except as required by law.
Contact Information:
Alexander Dobbin
Head of Investor Relations
650-808-4045
investor.relations@theravance.com
Tim Brons
Vida Strategic Partners (media)
646-319-8981
tbrons@vidasp.com
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SOURCE Theravance Biopharma, Inc.
