Profile: Theravance, Inc. (THRX.O)

Theravance, Inc. (Theravance), incorporated in November 1996, is a biopharmaceutical company with a pipeline of internally discovered product candidates. The Company is focused on the discovery, development and commercialization of small molecule medicines across a number of therapeutic areas, including respiratory disease, bacterial infections and gastrointestinal motility dysfunction. Its programs include telavancin for the treatment of serious Gram-positive bacterial infections with Astellas Pharma Inc. (Astellas) and its Horizon program and the Bifunctional Muscarinic Antagonist-beta2 Agonist (MABA) program with GlaxoSmithKline plc (GSK). During the year ended December 31, 2008, Theravance owns 140 issued United States patents and 512 granted foreign patents. In addition, Theravance has 150 United States patent applications pending and 835 foreign patent applications pending as of December 31, 2008.

In late January 2009, the Company submitted a New Drug Application (NDA) to the United States Food and Drug Administration (FDA) for telavancin for the treatment of nosocomial pneumonia caused by Gram-positive bacteria, such as methicillin-resistant Staphylococcus aureus (MRSA). On November 19, 2008, the Company announced that telavancin received a favorable recommendation from the Anti-Infective Drugs Advisory Committee of the FDA. In the fourth quarter of 2008, the Company completed a Phase I drug-drug interaction study with TD-5108, its lead compound in the program.

The Company relies on a number of third parties, including contract manufacturing organizations and its collaborative partners, to produce compounds. Manufacturing of compounds in its Horizon and MABA programs is handled by GSK. Additionally, GSK is responsible for the manufacturing of any additional product candidates associated with the programs that it licenses under the strategic alliance agreement. For telavancin, the Company is responsible for the manufacture of active pharmaceutical ingredient (API) and drug product for the first six months of commercialization if telavancin is approved for sale by regulatory authorities.