Here are five things to know:
1. The agreement centers on TD-8954, a selective 5-HT4 receptor agonist.
2. TD-8954 is being investigated for treatment of gastrointestinal motility disorders, including enteral feeding intolerance.
3. TD-8954 has already received FDA fast-track designation for short-term use to achieve early nutritional adequacy in critically ill patients at high nutritional risk with EFI.
4. Theravance Biopharma will receive an upfront cash payment of $15 million for TD-8954.
5. The company will also receive success-based development and sales milestone payments as well as royalties on global net sales of the product.
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