Theravance, Inc. Appoints Theodore J. Witek, Jr. As Senior VP, Corporate Partnerships, Clinical And Medical Affairs

Theravance, Inc.

("Theravance"), A Royalty Management Company, today announced the appointment of Theodore J. Witek, Jr. as Senior Vice President Corporate Partnerships, Clinical and Medical Affairs. Dr. Witek will report directly to Rick E Winningham, Chief Executive Officer and be responsible for working closely with Theravance's partners to achieve optimal results from the assets shared by the companies. In particular, Dr. Witek will be focused on the further development of the respiratory programs partnered with Glaxo Group Limited (GSK), including RELVAR®/BREO® ELLIPTA®, ANORO™ ELLIPTA®, the combination of umeclidinium/vilanterol/fluticasone furoate (UMEC/VI/FF) and the Bifunctional Muscarinic Antagonist-Beta2 Agonist (MABA) monotherapy and combination programs. Dr. Witek brings over three decades of clinical and medical affairs experience to Theravance. Most recently, he served as President and Chief Executive Officer, Boehringer Ingelheim Canada Ltd. Joining Boehringer in 1992, Dr. Witek held a number of positions of increasing responsibility, during which time he led the global clinical development and launch of several respiratory products, most notably Spiriva®. He also led the Respiratory and Immunology clinical research groups in the United States. In 2001, he moved to Germany to lead the operating team for Spiriva® where he also served as the Boehringer Ingelheim Co-chair of the Joint Operating Committee with Pfizer in their global alliance. During his tenure in Canada, Dr. Witek served on the Board of Directors at Rx&D, Canada's National Association for Research-Based Pharmaceutical Companies, chairing its Heath Technology Assessment Committee and Public Affairs Committee. He also served over ten years on the Drug/Device Discovery and Development Committee of the American Thoracic Society, serving as Chairman from 2010 to 2012. He is currently appointed to the Ontario Heath Innovation Council. Dr. Witek holds a Doctor of Public Health degree from Columbia University, a Master of Public Health from Yale University, and a Master of Business Administration from Henley Management College. "Ted's robust clinical, regulatory and medical affairs experience in respiratory disease will be fundamental to achieving our corporate objective of maximizing the value of our partnership with GSK," said Rick E Winningham, Chief Executive Officer of Theravance. "Ted will join a growing senior leadership team at Theravance, a team dedicated to the creation of value for patients and stockholders."