Portola Pharmaceuticals

Last updated

Portola Pharmaceuticals
Company type Public [1]
Industry Pharmaceuticals
Founded2003
FoundersCharles J. Homcy, David R. Philips
FateAcquired by Alexion Pharmaceuticals
Headquarters South San Francisco, California, United States
Area served
Worldwide
Key people
Scott Garland (CEO) [1]
Products Andexxa
Bevyxxa
Cerdulatinib
Revenue$40,130 (2018) [1]
Number of employees
324 (2018) [1]
Subsidiaries Portola Pharma UK Limited
Website portola.com

Portola Pharmaceuticals is an American clinical stage biotechnology company that researches, develops, and commercializes drugs. The company focuses primarily on drugs used in the treatment of thrombosis and hematological malignancies. [2] Founded in 2003 and headquartered in South San Francisco, California, Portola Pharmaceuticals is a member of the NASDAQ Biotechnology Index.

Contents

In May 2020, Alexion Pharmaceuticals and Portola announced that they had entered into a definitive merger agreement for Alexion to acquire Portola. [3]

History

The company was founded on September 2, 2003, [4] and named after Gaspar de Portolà, who was the first European to see San Francisco Bay. It completed an IPO on NASDAQ in May 2013. [5]

The company developed P2Y12 inhibitor Elinogrel, transferring rights to Novartis in 2009. [6] The rights were returned in 2012 to Portola, which decided not to continue development.

Portola Pharmaceuticals has collaboration agreements with SRX Cardio, Dermavant, Millennium Pharmaceuticals, Daiichi Sankyo, Bayer, Janssen, BMS, and Pfizer. [7]

In the class action lawsuit of Hayden v. Portola Pharmaceuticals in U.S. District Court, in the Northern District of California, before U.S. District Judge Vince Chhabria, plaintiffs sued under Section 11 of the Securities Act of 1933 alleging that the company and its underwriters misrepresented its financial position ahead of a 2019 securities offering. [8] [9] In November 2022, Judge Chhabria entered an order granting preliminary approval of the proposed settlement of the case in the proposed settlement amount of $17.5 million. [10] [11] [12]

Products

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<span class="mw-page-title-main">Rivaroxaban</span> Anticoagulant drug

Rivaroxaban, sold under the brand name Xarelto among others, is an anticoagulant medication used to treat and prevent blood clots. Specifically it is used to treat deep vein thrombosis and pulmonary emboli and prevent blood clots in atrial fibrillation and following hip or knee surgery. It is taken by mouth.

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References

  1. 1 2 3 4 "FORM 10-K For the Fiscal Year Ended December 31, 2018". portola.com. Retrieved May 13, 2019.
  2. ↑ "Corporate site". portola.com. Retrieved May 11, 2019.
  3. ↑ Alexion to Acquire Portola, businesswire.com, Retrieved 5 May 2020.
  4. ↑ "EX-3.2". sec.gov.
  5. ↑ "Portola Pharmaceuticals prices upsized IPO at $14.50, within the range"
  6. ↑ "Novartis gains worldwide rights to elinogrel, a Phase II anti-clotting compound". pharmanews.eu. Retrieved November 3, 2018.
  7. ↑ "Collaborations, Portola Website" . Retrieved May 11, 2019.
  8. ↑ Godoy, Jody (August 11, 2021). "Portola Pharmaceuticals, underwriters lose bid to toss shareholder lawsuit". Reuters– via reuters.com.
  9. ↑ "Judge Dismisses Securities Claims As Lacking In Drug Company's Stock-Drop Suit - Lexis Legal News". lexislegalnews.com.
  10. ↑ "REMOTE HEARINGS". apps.cand.uscourts.gov.
  11. ↑ "Securities Settlement Approved in Class Action Against Portola Pharmaceuticals | Law Street Media". November 1, 2022.
  12. ↑ https://www.bermantabacco.com/wp-content/uploads/2022/12/portolapharmaceuticals-notice.pdf
  13. ↑ "FDA Approval Letter - ANDEXXA, May 3, 2018". fda.gov. Retrieved May 11, 2019.
  14. ↑ "EMA Positive Opinion - ONDEXXYA, March 1, 2019". ema.europa.eu. Retrieved May 11, 2019.
  15. ↑ "European Commission Grants Conditional Marketing Authorization for Portola Pharmaceuticals' Ondexxya™ (andexanet alfa), the First and Only Antidote for the Reversal of Factor Xa Inhibitors, PM Portola, April 26, 2019". portola.com. Retrieved May 11, 2019.
  16. ↑ "FDA approved betrixaban (BEVYXXA, Portola) for the prophylaxis of venous thromboembolism (VTE) in adult patients, FDA, June 23, 2017". fda.gov. November 3, 2018. Retrieved May 11, 2019.
  17. ↑ "NASDAQ: Portola's (PTLA) Lymphoma Candidate Gets Orphan Drug Status, September 26, 2018". nasdaq.com. Retrieved May 11, 2019.
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