Sarissa Capital Management LP announced that Sarissa Capital has entered into an agreement with Innoviva, Inc. to reconstitute the entire board of directors as follows: Effective immediately Jules Haimovitz, Sarah Schlesinger, M.D. and Mark DiPaolo will be added to the Innoviva board, joining recently added Sarissa designees George Bickerstaff, III and Odysseas Kostas, M.D. Effective as of the upcoming stockholder meeting, the Innoviva board will consist of five directors: Jules Haimovitz, Sarah Schlesinger, M.D., Mark DiPaolo, George Bickerstaff, III and Odysseas Kostas, M.D. Mark DiPaolo and Odysseas Kostas, M.D. are principals of Sarissa Capital. Jules Haimovitz, Sarah Schlesinger, M.D. and George Bickerstaff, III served together on the board of directors of ARIAD Pharmaceuticals and were instrumental in the turnaround efforts at ARIAD which culminated in the sale of the company for over $5 billion last year. This outcome is the result of a proxy contest Sarissa Capital waged in connection with Innoviva's 2017 annual stockholder meeting and Sarissa Capital's necessary subsequent litigation against Innoviva.
Innoviva, Inc. is a diversified holding company with a portfolio of royalties and other healthcare assets. The Company's royalty portfolio consists of 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, the Company is entitled to receive royalties from GSK on sales of RELVAR/BREO ELLIPTA. The Company's products include GIAPREZA and XERAVA. GIAPREZA (angiotensin II) injection is approved by the United States Food and Drug Administration (FDA) as a vasoconstrictor indicated to increase blood pressure in adults with septic or other distributive shock. XERAV (eravacycline) for injection is approved by the United States FDA and Singapore Health Sciences Authority (HSA) as a tetracycline class antibacterial indicated for the treatment of complicated intra-abdominal infections (cIAI).
INNOVIVA, INC. 
