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BRIEF-Theravance and Alfa Wassermann enter agreement on gastroparesis drug

Oct 2 (Reuters) - Theravance Inc :

* Theravance and alfa wassermann enter into agreement to develop and

commercialize velusetrag for gastroparesis

* Says companies will collaborate in the execution of a two-part phase 2

program

* Says financial terms of the transaction include funding of the phase 2

program by alfa wassermann

* Says is entitled to receive royalties on net sales by alfa wassermann ranging

from the low teens to 20%.

* Theravance-financial terms of deal include potential development, regulatory

and sales milestone payments of up to $53.5 million

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