In business for some 14 years before becoming SBIR involved (and over that time dba Advanced Medicine) in 2000 Theravance (NASDAQ:THRX) bought from Incara its antibacterial drug discovery division. Over the subsequent decade, the firm completed a series of outlicensing transactions to various large pharmaceutical and to (then) emerging biotech firms. In May 2013, to maximize the value of its assets and increase the return of capital to stockholders, the biotech Theravance Inc. separated into two independent publicly traded companies with different business models: Royalty Management Co. (RMC) - remaining at the original location in South San Francisco, CA, functioning as a Royalty Marketing entiity focused on later-stage respiratory diseases candidates. The other division - doing business as Theravance Biopharma - relocated to the Cayman Islands and engaged in R&D focused on diseases of the lung and gastrointestinal tract, and infectious diseases, as well as on the acute care setting markets. The company offered a bactericidal, once-daily injectable antibiotic to treat patients with infections due to Staphylococcus aureus and other Gram-positive bacteria. The companyÂ's TD-4208 - investigational long-acting muscarinic antagonist which had completed Phase IIb study for the treatment of chronic obstructive pulmonary disease - and Axelopran, an investigational, once-daily, and oral peripherally active mu opioid receptor antagonist in Phase II clinical trial for opioid-induced constipation. Also offered was Velusetrag, an oral and investigational medicine, which completed Phase II study for gastrointestinal motility disorders. The company focused on various other drug development programs, including the combination of fluticasone furoate, umeclidinium, and vilanterol; the MABA program, as monotherapy; and in combination with other therapeutically active components, such as an inhaled corticosteroid. In January 2016 Theravance, Inc. changed its name to Innoviva, Inc. indicated as brining new medicines to patients in areas of unmet needs with Innoviva's portfolio anchored by respiratory assets partnered from 2013 with Glaxo Group Limited (GSK)
