Innoviva, Inc.

Innoviva, Inc. is a United States-based healthcare company headquartered in Burlingame, California. It is best known as a royalty and licensing business that holds economic interests in a portfolio of pharmaceutical products, most notably respiratory medicines developed and commercialized by GlaxoSmithKline (now GSK). The company was originally known as Theravance, Inc., a biopharmaceutical company founded in the late 1990s, before a corporate reorganization separated its drug-discovery operations from its royalty assets. The royalty-focused entity was renamed Innoviva, while the research and development business continued as Theravance Biopharma. Innoviva's core model is to earn royalties and other payments from partnered medicines rather than to bear the full cost and risk of late-stage development and commercialization. Its flagship royalty assets have historically included the respiratory products Relvar/Breo Ellipta, Anoro Ellipta, and Trelegy Ellipta, which are marketed by GSK. These products generate royalty revenue for Innoviva based on global net sales. The company has also expanded beyond pure royalties through acquisitions and investments in healthcare businesses, including hospital products and other commercial-stage assets. Because Innoviva is a publicly traded corporation, its shares trade on the NASDAQ under the ticker symbol INVA. Its investor relations website is hosted at investor.inva.com. The company's headquarters in Burlingame places it within the San Francisco Bay Area life-sciences cluster. Innoviva's business is therefore best understood as a healthcare royalty and commercial-stage pharmaceutical company rather than a traditional research-driven drug developer, although it retains interests in a range of therapeutic products and healthcare operations.

Innoviva traces its origins to Theravance, Inc., a biopharmaceutical company founded in the late 1990s and based in South San Francisco, California. Theravance built a drug-discovery platform and entered into a major collaboration with GlaxoSmithKline to develop respiratory medicines. That partnership produced a series of inhaled products, including Relvar/Breo Ellipta, Anoro Ellipta, and later Trelegy Ellipta, which became commercially successful treatments for asthma and chronic obstructive pulmonary disease (COPD). In 2014, Theravance undertook a reorganization that separated its late-stage partnered royalty assets from its earlier-stage research and development operations. The royalty-holding company was renamed Innoviva, Inc., while the research-focused business became Theravance Biopharma, Inc. This split allowed Innoviva to operate as a leaner entity focused on collecting royalties and other payments from the GSK-partnered medicines, rather than funding costly clinical development. Following the separation, Innoviva continued to manage and expand its royalty portfolio. It also diversified through acquisitions and investments in commercial-stage healthcare businesses, including companies with hospital and acute-care products. The company is headquartered in Burlingame, California, and its shares are publicly traded on the NASDAQ under the ticker INVA. Its investor relations activities are conducted through investor.inva.com. Over time, Innoviva has positioned itself as a healthcare royalty and holding company, using cash flows from its royalty assets to fund acquisitions and return capital to shareholders.

• Theravance, Inc. founded as a biopharmaceutical company.

• Theravance enters respiratory collaboration with GlaxoSmithKline.

• Corporate reorganization separates royalty assets; royalty entity renamed Innoviva, Inc.

• Innoviva shares trade on NASDAQ under ticker INVA.

A healthcare royalty and commercial-stage pharmaceutical company monetizing partnered medicines.

• Relvar/Breo Ellipta royalty interest

• Anoro Ellipta royalty interest

• Trelegy Ellipta royalty interest

1. 1Innoviva (United States) - Wikidatawikidata.org
2. 2Innoviva Investor Relationsinvestor.inva.com