Portola’s core programs include betrixaban, a once-daily oral Factor Xa inhibitor, and PRT064445, a recombinant Factor Xa inhibitor antidote. The company intends to use the financing to advance betrixaban through Phase 3 clinical development and to progress PRT064445. Portola plans to initiate a Phase 3 program to prevent venous thromboembolism (VTE) in acute medically ill patients in the first half of 2012. The company also has a global collaboration with Biogen Idec for an oral Syk inhibitor program targeting autoimmune and inflammatory diseases. Under that agreement Biogen provided an upfront $45m (comprised of $36m cash and $9m in equity). Portola is led by CEO William Lis. Portola Pharmaceuticals is a San Francisco-based drug company developing cardiovascular therapies. Its lead program is betrixaban, an anticoagulant intended to prevent blood clots and being advanced into Phase II trials. The company is also developing an antiplatelet agent, PRT060128. Portola recently took a $60 million extension to its third round of funding to see betrixaban through Phase II. It has raised about $200 million in total to date, including a prior $70 million financing. If its drugs do well in trials, the company has said it will likely head to an IPO. Portola Pharmaceuticals is a South San Francisco biotech developing treatments for blood clots and other cardiovascular conditions. Its core programs are two experimental blood thinners that target different coagulation proteins. PRT054021 is an oral Factor Xa inhibitor that showed promising signs in a recent mid-stage human trial and is slated for further clinical testing. PRT060128 prevents platelet aggregation, has completed early trials, and is expected to enter mid-stage testing by the second half of 2007. The company raised $70M in a third round dominated by late-stage and public-market investors to fund these trials. Portola also aims to go public and may pursue an IPO as early as next year, according to its CFO. Portola Pharmaceuticals is a South San Francisco biotech focused on therapies for cardiovascular and vascular diseases. The company has two drug candidates in clinical development: an oral Factor Xa inhibitor in a Phase II trial for prevention of deep vein thrombosis in patients undergoing knee surgery, and a direct-acting, orally available ADP receptor antagonist in multiple Phase I trials. Portola recently secured $20 million in debt financing to support its operations. The financing was provided by Hercules Technology Growth Capital. Portola is already backed by venture firms Abingworth, Alta Partners, ATV, Frazier Healthcare Ventures, MPM Capital, Prospect Ventures and Sutter Hill Ventures.

Total raised

$239M

Funding rounds

4

Latest round

Equity

Latest activity

Nov 2011