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FDA Informs Portola Pharmaceuticals at Mid-Cycle Review for Betrixaban That It Has Not Identified Issues that Require an Advisory Committee Meeting
PDUFA Date of June 24, 2017 Under Priority Review

SOUTH SAN FRANCISCO, Calif., Feb. 08, 2017 (GLOBE NEWSWIRE) -- Portola Pharmaceuticals, Inc.® (Nasdaq:PTLA) today announced that the U.S. Food and Drug Administration (FDA)’s Center for Drug Evaluation and Research (CDER) has informed the Company, as part of its mid-cycle review, that it does not plan to hold an Advisory Committee meeting for Portola’s New Drug Application (NDA) for betrixaban. Betrixaban is an oral, once-daily Factor Xa inhibitor anticoagulant. The NDA for betrixaban, an FDA Fast Track-designated therapy, is under priority review by the FDA for extended-duration prophylaxis of venous thromboembolism (VTE) in acute medically ill patients with risk factors for VTE.

“Based on the APEX data, we remain confident in the potential for betrixaban to be approved as the first anticoagulant for extended-duration VTE prophylaxis in high-risk acute medically ill patients,” said John T. Curnutte, M.D., Ph.D., executive vice president, research and development, at Portola. “We look forward to continuing our ongoing discussions with the FDA as part of the priority review process.”

About VTE in Acute Medically Ill Patients 
Acute medically ill patients are those hospitalized for serious, common medical conditions, including heart failure, stroke, infection and pulmonary disease. Because of their underlying disorder or immobilization during hospitalization, they are at increased risk of VTE, a serious and potentially life-threatening blood clot (thrombus). VTE, which includes both deep vein thrombosis (DVT) and pulmonary embolism (PE), is a major cause of preventable morbidity and mortality and re-hospitalization in the acute medically ill patient population.

In the G7 countries, an estimated 24 million acute medically ill patients are hospitalized each year and are at risk of VTE, either while in the hospital or following discharge. More than 1 million VTE events and 150,000 VTE-related deaths occur annually in acute medically ill patients in the G7 countries, despite the standard use of injectable enoxaparin and other heparins in the hospital. More than half of VTE events occur after the patient is discharged. However, no anticoagulant, including enoxaparin or any of the marketed oral Factor Xa inhibitors, is approved for in-hospital and extended-duration VTE prophylaxis in acute medically ill patients who are hospitalized.

About Betrixaban 
Betrixaban, an investigational drug, directly inhibits the activity of Factor Xa, an important validated target in the blood coagulation pathway, to prevent life-threatening thrombosis. Betrixaban has distinct properties that may allow it to demonstrate clinical benefit without the significant imbalance in the risk of major bleeding seen with other agents in the class. These include a 19-25-hour half-life for once-daily dosing; a low peak-to-trough drug concentration ratio that reduces anticoagulant variability; low renal clearance; and no significant CYP3A4 metabolism, which may reduce the risk of drug-drug interactions.

In the EU, the European Medicines Agency’s Committee for Medicinal Products for Human Use (CHMP) is reviewing the Marketing Authorization Application for betrixaban under a standard 210-day review period.

About Portola Pharmaceuticals, Inc. 
Portola Pharmaceuticals is a biopharmaceutical company developing product candidates that could significantly advance the fields of thrombosis and other hematologic diseases. The Company is advancing three programs, including betrixaban, an oral, once-daily Factor Xa inhibitor; AndexXa™ (andexanet alfa), a recombinant protein designed to reverse the anticoagulant effect in patients treated with an oral or injectable Factor Xa inhibitor; and cerdulatinib, a Syk/JAK inhibitor in development to treat hematologic cancers. Portola's partnered program is focused on developing selective Syk inhibitors for inflammatory conditions. For more information, visit and follow the Company on Twitter @Portola_Pharma.

Forward-looking Statements 
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 development of our product candidates, our regulatory applications and estimated timelines associated therewith, including our expression of confidence in the potential for betrixaban to be approved as the first anticoagulant for extended-duration VTE prophylaxis in high-risk acute medically ill patients. Risks that contribute to the uncertain nature of the forward-looking statements include: our potential failure to obtain regulatory approval for one or more of our product candidates, our expectation that we will incur losses for the foreseeable future and will need additional funds to finance our operations; the results of our clinical trials related to the efficacy and safety of our product candidates; our potential inability to manufacture our product candidates on a commercial scale in a timely or cost-efficient manner; the accuracy of our estimates regarding expenses and capital requirements; regulatory developments in the United States and foreign countries; our ability to obtain and maintain intellectual property protection for our product candidates; and our ability to retain key scientific or management personnel. These and other risks and uncertainties are described more fully in our most recent filings with the Securities and Exchange Commission, including our most recent quarterly report on Form 10-Q, which was filed on November 7, 2016. All forward-looking statements contained in this press release speak only as of the date on which they were made. We undertake no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

Investor Contact:
Ana KaporPortola

Media Contact:
Julie NormartPure

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Portola Pharmaceuticals, Inc.