Cayman Islands law firm Appleby has advised on the proposed US$929 million acquisition of Theravance Biopharma by biotechnology company Zymeworks.
The transaction will see Zymeworks acquire all outstanding shares of Theravance Biopharma for $17 per share in cash, subject to customary closing adjustments.
Zymeworks, which is listed on the Nasdaq stock exchange under the ticker ZYME, develops biotherapeutic medicines and manages a portfolio of licensed healthcare assets.
Theravance Biopharma, listed on Nasdaq under the ticker TBPH, is a biopharmaceutical company focused on developing medicines for serious illnesses.
The acquisition is expected to close during the second half of 2026, subject to customary closing conditions.
According to an Appleby press release on 7 July, the firm advised on all Cayman legal aspects of the transaction.
The legal team was led by corporate partner Dean Bennett, with support from counsel Vance Power and associate Jared Awe.
Bennett told Cayman Independent: “We are delighted to be working with Zymeworks and its wider advisory team on this acquisition and to provide Cayman Islands legal advice on all aspects of the deal.
“This transaction once again showcases the strength and expertise of our Cayman public M&A team and growing market share in the healthcare, pharma and life sciences sectors for offshore work.”
