June 29 - ** Shares of drugmaker Zymeworks ZYME.O fall 4.3% to $23.12 at market open

** Zymeworks will buy biopharmaceutical company Theravance Biopharma TBPH.O in a $929 million deal

** Deal expected to close in the second half of 2026, and has been approved by the boards of both cos

** Co will buy all outstanding Theravance shares for $17 each, providing around a 3.6% discount to the latter's last close on Friday

**Acquisition gives Zymeworks access to Theravance's FDA-approved drug Yupelri, a nebulized treatment for chronic obstructive pulmonary disease (COPD)

**Theravance's market cap was $908.88 mln as of last close - LSEG data

**Shares of Zymeworks were down 12.4% YTD, including session's moves