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Biopharmaceuticals Personnel

 News Release - July 31, 2007

Theravance Announces Appointment of Leonard M. Blum as Chief Commercial Officer

SOUTH SAN FRANCISCO, CA--(Healthcare Sales & Marketing Network)--Jul 31, 2007 -- Theravance, Inc. (NasdaqGM:THRX ) announced today the appointment of Leonard M. Blum as Senior Vice President and Chief Commercial Officer. Mr. Blum will report directly to Rick E Winningham, Chief Executive Officer, and his responsibilities will include marketing and strategic product planning.

Mr. Blum has over 20 years of marketing and sales leadership experience in the biotechnology and pharmaceutical industries. Mr. Blum joins Theravance from ICOS Corporation, where he served as Senior Vice President, Sales and Marketing. While at ICOS, he built the company's commercial organization and directed the innovative marketing strategy, successful launch, and life cycle management of Cialis® in partnership with Eli Lilly. From 1987-2000, Mr. Blum held positions of increasing responsibility in marketing and sales management at Merck & Co. in both U.S. and international markets. Mr. Blum earned a Masters in Business Administration from Stanford University, studied Finance as a Fulbright Fellow at the University of Zurich, and received an A.B. in Economics, magna cum laude, from Princeton University. Mr. Blum served previously as an officer in the U.S. Army Special Forces.

"We are very pleased to have Leonard join the executive team at Theravance," said Rick E Winningham, Chief Executive Officer. "His experience of working with an alliance partner to launch and build a successful global brand will be a significant asset to Theravance as we move toward the commercialization of telavancin. Leonard's track record of outstanding commercial leadership will complement Theravance's demonstrated research and development expertise as we continue to build the capabilities of our company. We look forward to Leonard's contributions."

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, four are in late stage -- our telavancin program focusing on treating serious Gram-positive bacterial infections in collaboration with Astellas Pharma Inc., our Gastrointestinal Motility Dysfunction program, our Beyond Advair collaboration with GlaxoSmithKline plc, and TD-1792 for the treatment of serious Gram-positive infections. 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

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

This press release contains 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 enabling capabilities of Theravance's approach to drug discovery and its proprietary insights and statements concerning expectations for product candidates through development and commercialization. These statements are based on the current estimates and assumptions of the management of Theravance as of the date of this press release 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, 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 May 8, 2007, 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.

Source: Theravance

Issuer of this News Release is solely responsible for its content.
Please address inquiries directly to the issuing company.

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