---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-22-025945"
form_type: "8-K"
ticker: "INVA"
cik: "0001080014"
company_name: "Innoviva, Inc."
filed_at: "2022-07-13T23:59:59+00:00"
generated_at: "2026-06-24T15:38:08.818223+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Innoviva sells 15% TRC stake to Royalty Pharma for ~$282M upfront plus $50M milestone

## Summary
- Upfront cash payment of $282M; potential $50M sales-based milestone payment.
- Retained full ownership of TRC's investments in InCarda, ImaginAb, Gate Neurosciences, and Nanolive SA.
- Retained royalty rights on ANORO ELLIPTA and RELVAR/BREO ELLIPTA after closing.
- Theravance Biopharma concurrently selling its 85% TRC stake to Royalty Pharma.
- Transaction expected to close July 2022; includes amendments to GSK collaboration agreement.

## SEC filing metadata
- accession: 0001140361-22-025945
- form_type: 8-K
- ticker: INVA
- cik: 0001080014
- company_name: Innoviva, Inc.
- filed_at: 2022-07-13T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1080014/000114036122025945/0001140361-22-025945-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1080014/000114036122025945/ny20004305x24_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-22-025945
- JSON: https://secwatch.observer/filing/0001140361-22-025945.json
- Plain text: https://secwatch.observer/filing/0001140361-22-025945.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.