Theravance Biopharma US, LLC

Theravance Biopharma is a South San Francisco biopharmaceutical company built around a focused respiratory franchise. Its flagship product, YUPELRI (revefenacin), is the first and only once-daily nebulized long-acting muscarinic antagonist approved in the U.S. for COPD maintenance, commercialized with partner Viatris. Spun out of Innoviva in 2014 and trading on Nasdaq as TBPH, the company combines a profitable marketed product with high-value royalty assets - including a now-monetized stake in GSK's TRELEGY - and runs a lean, capital-disciplined model rather than chasing scale.