Innoviva Announces Retirement of Board Chairman

Innoviva, Inc. (NASDAQ: INVA) (“Innoviva” and “the Company”) and George Bickerstaff, III, Chairman of the Board of Directors of the Company (the “Board”) today announced that Mr. Bickerstaff would not stand for reelection at the Company’s 2023 Annual Meeting. Following the Meeting, assuming that all other members of the Board are reelected, the Board will be comprised of six members.

Mr. Bickerstaff indicated that he is stepping down from the Board to focus on other professional and philanthropic pursuits, which includes his role as chair of the Board of Trustees for the International Vaccine Institute.

“Serving Innoviva as Board Chairman has been an honor,” said Mr. Bickerstaff. “I am very proud of Innoviva’s transformation during my tenure on the Board. I am excited for the future of the Company, as it is well-positioned to continue executing on its transformation under outstanding leadership.”

Pavel Raifeld, Chief Executive Officer of Innoviva, stated: “George and I have worked side by side during my tenure as CEO, and I have personally benefited from his deep insights, incisive analytical approach, valuable counsel and camaraderie.”

“On behalf of the entire Company, I want to extend my appreciation to George for his longstanding leadership and commitment to Innoviva. George has been part of the Innoviva story since 2017 and his extensive financial, accounting and business perspectives and expertise have been integral to our evolution.”

About Innoviva

Innoviva is a diversified holding company with a portfolio of royalties and other healthcare assets. Innoviva’s royalty portfolio includes respiratory assets partnered with Glaxo Group Limited (“GSK”), including RELVAR/BREO ELLIPTA (fluticasone furoate/ vilanterol, “FF/VI”) and ANORO ELLIPTA (umeclidinium bromide/ vilanterol, “UMEC/VI”). Under the Long-Acting Beta2 Agonist (“LABA”) Collaboration Agreement, Innoviva is entitled to receive royalties from GSK on sales of RELVAR/BREO ELLIPTA and ANORO ELLIPTA. Innoviva’s other healthcare assets include infectious disease and hospital assets stemming from acquisitions of Entasis Therapeutics, including its lead asset sulbactam-durlobactam, and La Jolla Pharmaceutical, including GIAPREZA (angiotensin II), approved to increase blood pressure in adults with septic or other distributive shock and XERAVA (eravacycline) for the treatment of complicated intra-abdominal infections in adults. ANORO, RELVAR and BREO are trademarks of the GSK group of companies.