Portola Pharmaceuticals Lands $89,000,000 New Funding Round

  • Feed Type
  • Date
    11/22/2011
  • Company Name
    Portola Pharmaceuticals
  • Mailing Address
    270 E. Grand Avenue South San Francisco, CA 94080
  • Company Description
    Portola Pharmaceuticals, Inc. is a private biopharmaceutical company dedicated to the discovery, development and commercialization of novel therapeutics for acute and chronic cardiovascular and vascular disease. Portola has two drug candidates in clinical development. The most advanced compound is an oral Factor Xa inhibitor that is entering a Phase II trial for the prevention of DVT in patients undergoing knee surgery.
  • Website
    http://www.portola.com
  • Transaction Type
    Venture Equity
  • Transaction Amount
    $89,000,000
  • Transaction Round
    Undisclosed
  • Proceeds Purposes
    Proceeds will be used primarily to advance betrixaban, a once-daily, oral Factor Xa inhibitor, through Phase 3 clinical development and to advance development of its companion product, PRT064445, a recombinant Factor Xa inhibitor antidote designed to reverse anticoagulant activity in patients treated with Factor Xa inhibitors suffering major bleeds or requiring surgery. Portola plans to initiate a Phase 3 betrixaban program to prevent venous thromboembolism (VTE) in acute medically ill patients in the first half of 2012.
  • M&A Terms
  • Venture Investor
    Temasek Holdings
  • Venture Investor
    Undisclosed