Theravance 
South San Francisco, Calif.
Founded: 1997

Why we said: With a management team of Bristol-Myers Squibb, Genentech, GlaxoSmithKline and Pfizer alum, Theravance (THRX) set out to develop drugs for everything from respiratory disease to overactive bladder. In 2002, the company landed a $495 million deal with GlaxoSmithKline for rights to Theravance's respiratory medications. The lead product, a long-acting Beta2 agonist for asthma and COPD, was in Phase I studies in 2003.

What happened: Theravance completed development on its lead candidate, telavancin, in April 2008 and the company celebrated by cutting 40 percent of its workforce. In September 2009, Theravance and partner Astellas Pharma won approval to market telavancin as Vibativ, a once-daily injectable antibiotic treatment for MRSA-related skin infections. It was the first approval for Theravance in its 12-year history. 

The developer is also seeking approval to market the treatment for hospital-acquired pneumonia. Under the agreement established in 2005, Theravance will market the drug in the U.S., while Astellas will lead the push for regulatory approval in all other markets.

Earlier this year, GSK returned its license for the Long-Acting Muscarinic Antagonist (LAMA) program to Theravance, but the two companies continue to collaborate on two other programs directed towards asthma and COPD.

View the original Fierce 15 of 2003 report.

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