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Portola Pharmaceuticals Enters into $50 Million Loan Agreement with Bristol-Myers Squibb and Pfizer for Continued Development of AndexXa™ (andexanet alfa)
“This agreement reflects the commitment and support of the andexanet alfa program by our long-standing partners BMS and Pfizer and helps Portola to continue moving rapidly toward our goal of gaining regulatory approval in 2017,” said Tao Fu, chief commercial and business officer of Portola. “We are committed to working with the
Under the terms of the agreement,
Portola previously entered into two separate clinical collaboration agreements with
AndexXa (andexanet alfa), an investigational drug, is a modified human Factor Xa molecule that acts as a decoy to target and sequester with high specificity both oral and injectable Factor Xa inhibitors in the blood. Once bound, the Factor Xa inhibitors are unable to bind to and inhibit native Factor Xa, thus potentially allowing for the restoration of normal hemostatic processes. AndexXa is the first compound being studied as an antidote for Factor Xa inhibitors that directly and specifically reverses anti-Factor Xa activity – the anticoagulant mechanism of these agents.
AndexXa is currently being evaluated in the ongoing Phase 3b/4 ANNEXA™-4 study in patients with Factor Xa inhibitor-associated acute major bleeding. Results of a preliminary analysis of interim data were presented in a Late-Breaking Science Hot Line session at the European Society of Cardiology 2016 Congress and published simultaneously online by
In the EU, the
About Portola Pharmaceuticals, Inc.
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 the timing of our development efforts for andexanet alfa and the projected need for a Factor Xa inhibitor antidote. Risks that contribute to the uncertain nature of the forward-looking statements include the risk that our data fail to demonstrate safety and efficacy of andexanet alfa to the satisfaction of the
Ana Kapor Portola Pharmaceuticalsir@portola.com Media Contact: Julie Normart W2O Groupjnormart@w2ogroup.com 415.946.1087