January 26, 2007 16:00 ET

Theravance to Host 2007 Investor R&D Day

SOUTH SAN FRANCISCO, CA -- (MARKET WIRE) -- January 26, 2007 -- Theravance, Inc. (NASDAQ: THRX) announced today that it will host an Investor R&D Day on February 5, 2007 in New York City from noon to 4:00 pm ET to provide a comprehensive review of preclinical and clinical development programs. The presentations will cover all of Theravance's full discovery and development programs, except Beyond Advair, with a focus on Theravance's approach to discovering, developing, and commercializing medicines.

Theravance speakers will include Rick E Winningham, Chief Executive Officer, Michael Kitt, MD, Senior Vice President, Development, David Brinkley, Senior Vice President, Commercial Development, and project leaders for Theravance's respiratory disease, bacterial infection, and gastrointestinal motility dysfunction clinical programs as well as Theravance's full discovery programs.

Guest speakers will include John Johanson, MD, Clinical Associate Professor of Medicine, University of Illinois, and Ethan Rubinstein, MD, H.E. Sellers Research Chair, Head, Section of Infectious Diseases, University of Manitoba, Winnipeg, Canada.

Webcast Information

The presentation slides and live audio webcast can be accessed from Theravance's web site at www.theravance.com. Listeners are encouraged to visit the site at least 15 minutes prior to the scheduled presentation to register, download and install any necessary audio software.

About Theravance

Theravance is a biopharmaceutical company with a pipeline of internally discovered product candidates. Theravance is focused on the discovery, development and commercialization of small molecule medicines across a number of therapeutic areas including respiratory disease, bacterial infections and gastrointestinal motility dysfunction. Of the five programs in development, two are in late stage -- its telavancin program focusing on treating serious Gram-positive bacterial infections with Astellas Pharma Inc. and the Beyond Advair collaboration with GlaxoSmithKline. By leveraging its proprietary insight of multivalency to drug discovery focused on validated targets, Theravance is pursuing a next-generation drug discovery strategy designed to discover superior medicines in large markets. For more information, please visit the company's web site at www.theravance.com.

THERAVANCE®, the Theravance logo, and MEDICINES THAT MAKE A DIFFERENCE® are registered trademarks of Theravance, Inc.

This press release contains and Theravance's 2007 Investor R&D Day presentations will contain certain "forward-looking" statements as that term is defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things, statements relating to goals, plans, objectives and future events. Theravance intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Exchange Act and the Private Securities Litigation Reform Act of 1995. Examples of such statements include statements relating to the goals, timing and expected results of clinical and preclinical studies and regulatory review, statements regarding the potential benefits and mechanisms of action of drug candidates, the enabling capabilities of Theravance's approach to drug discovery and its proprietary insights, statements concerning expectations for product candidates through development and commercialization and projections of revenue and other financial items. These statements are based on the current estimates and assumptions of the management of Theravance as of the date of this press release and the presentations and are subject to risks, uncertainties, changes in circumstances, assumptions and other factors that may cause the actual results of Theravance to be materially different from those reflected in its forward-looking statements. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, among others, risks related to delays or difficulties in commencing or completing clinical and preclinical studies, the potential that results of clinical or preclinical studies indicate product candidates are unsafe, ineffective, inferior or not superior, delays or failure to achieve regulatory approvals, and risks of collaborating with third parties to develop and commercialize products. These and other risks are described in greater detail under the heading "Risk Factors" contained in Item 1A of Theravance's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (SEC) on November 6, 2006 and the risks discussed in our other filings with the SEC. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Theravance assumes no obligation to update its forward-looking statements.