# Innoviva

Innoviva is an Asset Manager based in Burlingame, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Burlingame, United States
- **Region:** North America
- **Address:** Burlingame, CA, United States
- **Founded:** 1996
- **Assets under management:** Undisclosed
- **Website:** inva.com
- **LinkedIn:** https://www.linkedin.com/company/innoviva

## Regulatory record

- **Reports private funds:** No

## About

Innoviva manages a respiratory royalty portfolio and makes strategic acquisitions in promising areas of unmet need, such as infectious diseases.

## Sectors

- Healthcare Services
- Biotech
- Pharmaceuticals

## People

- Pavel Raifeld — Chief Executive Officer
- Steve Basso — Chief Financial Officer
- David Altarac — Chief Medical Officer, IST

## Questions

### How does Innoviva source proprietary deal flow?

Innoviva targets acquisitions in areas of high unmet medical need, often in undervalued therapeutic segments. Deals have included the acquisition of Entasis Therapeutics (2022) and the U.S. rights to ZEVTERA (2024), sourced through its management's industry networks and direct engagement with biotech companies (per firm website, 2026).

### Does Innoviva participate in fund commitments or only direct deals?

Innoviva primarily makes direct acquisitions of companies, products, and royalty streams. It has not been disclosed as a limited partner in external funds. Its capital deployment focuses on direct control or significant stakes in healthcare assets.

### What investment stages does Innoviva typically target?

Innoviva targets commercial-stage and late-stage clinical assets. It has acquired companies with approved products (La Jolla Pharmaceutical) and pre-commercial assets (Entasis Therapeutics' XACDURO). It also invests in strategic royalty streams from marketed drugs (per firm website, 2026).

### Which sectors does Innoviva explicitly focus on?

Innoviva focuses on healthcare, particularly respiratory, critical care, and infectious disease. Its portfolio includes royalties from respiratory products partnered with GSK (BREO, ANORO, TRELEGY), and IST's products for hospital-acquired infections and gonorrhea (per firm website, 2026).

### How is Innoviva related to its former parent Theravance?

Innoviva was spun off from Theravance in 2014. It retains royalty rights from respiratory products originally developed by Theravance and partnered with GSK. In 2022, Innoviva sold its 15% stake in Theravance Respiratory Company (per firm website, 2026).

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Last updated: 2026-06-03T20:00:00.000Z

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