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Portola Pharmaceuticals Appoints Industry Leader Tao Fu as Executive Vice President, Chief Commercial and Business Officer
"Tao is a proven leader with a track record of success in the biopharmaceutical industry," said
"I am delighted to join Portola at such an exciting time for the Company -- with two innovative pipeline products in thrombosis in late-stage clinical development and approaching commercialization and a unique Syk/JAK inhibitor in early-stage development, all of which are targeting major unmet medical needs," said Mr. Fu. "I look forward to leveraging my experience by contributing to the continued success of Portola."
At BMS, Mr. Fu was responsible for the company's corporate development, alliance management and venture activities. Prior to that, he was vice president, business development at Janssen, the pharmaceuticals group of
Portola's wholly-owned, oral, once-daily Factor Xa inhibitor betrixaban is being evaluated in the only biomarker-based Phase 3 study for hospital-to-home prophylaxis of venous thromboembolism (VTE) in acute medically ill patients. Betrixaban's distinct properties may have the potential to allow the agent to demonstrate efficacy without the significant increase in the rate of major bleeding that was seen in this patient population with other Factor Xa inhibitors. If approved, betrixaban could be the first anticoagulant for both hospital and post-discharge VTE prophylaxis and the standard of care in this large market of more than 20 million patients in the G7 countries alone.
Andexanet alfa, an
Portola's product candidate in the area of hematologic cancer, cerdulatinib, is an orally available molecule that uniquely inhibits two validated tumor proliferation pathways – spleen tyrosine kinase (Syk) and janus kinase (JAK). It is currently being evaluated in a Phase 1/2a proof-of-concept study in patients with B cell leukemias or lymphomas with a focus on genetically-defined subtypes, as well as in patients who have failed therapy due to relapse or acquired mutations.
For more information, visit www.portola.com and follow the Company on Twitter @Portola_Pharma.
Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Such statements include, but are not limited to, statements regarding: Portola's plans for future clinical studies and pursuit of an Accelerated Approval process for andexanet alfa, anticipated growth in the market for anticoagulants, the potential indications, efficacy, safety and activity of andexanet alfa, and the potential market and indications for its other product candidates. Risks that contribute to the uncertain nature of the forward-looking statements include: the accuracy of Portola's estimates regarding its ability to initiate and/or complete its clinical trials; the success of Portola's clinical trials and the demonstrated efficacy of Portola's product candidates thereunder; the accuracy of Portola's estimates regarding its expenses and capital requirements; Portola's ability to manufacture andexanet alfa; regulatory developments in
CONTACT: Investor Contact:
Michele Mantynen Portola Pharmaceuticalsir@portola.com Media Contact: Jani Bergan W2O Groupjbergan@w2ogroup.com