Portola Pharmaceuticals
| Company type | Public |
|---|---|
| Industry | Biotechnology |
| Founded | September 2, 2003 |
| Fate | Acquired by Alexion Pharmaceuticals in May 2020 |
| Headquarters | South San Francisco, California , United States |
Area served | Worldwide |
| Products | Andexanet alfa (Andexxa), Betrixaban (Bevyxxa), Cerdulatinib |
| Parent | Alexion Pharmaceuticals |
Portola Pharmaceuticals is a U.S.-based clinical-stage biotechnology firm focused on the discovery, development, and marketing of therapies for thrombosis and hematological malignancies. Established in 2003 with its headquarters located in South San Francisco, California, the company is publicly traded on the NASDAQ Biotechnology Index.
In May 2020, Portola was acquired by Alexion Pharmaceuticals, a move that expanded Alexion's offerings in hematology and thrombosis care.
History
Portola Pharmaceuticals was founded on September 2, 2003, taking its name from the explorer Gaspar de Portolà. The company went public with an initial public offering on NASDAQ in May 2013.
The firm developed the P2Y12 antagonist Elinogrel, which was originally licensed to Novartis in 2009. Portola regained full rights to Elinogrel in 2012 but ultimately ceased its development.
Portola has established partnerships with prominent industry players such as SRX Cardio, Dermavant, Millennium Pharmaceuticals, Daiichi Sankyo, Bayer, Janssen, BMS, and Pfizer to support advancement of its product pipeline.
In connection with a securities class action lawsuit concerning a 2019 stock offering, Portola and its underwriters were accused of financial misrepresentation. This matter was provisionally resolved in November 2022 through a $17.5 million settlement.
Products
- Andexanet alfa (marketed as Andexxa) is a recombinant coagulation factor Xa inhibitor reversal agent and represents the first FDA-approved therapy designed to counteract anticoagulation effects from oral agents rivaroxaban and apixaban during life-threatening hemorrhages. It received FDA approval in May 2018 and conditional marketing authorization from the European Commission in April 2019 covering all EU member states. It is not approved for bleeding events caused by other FXa inhibitors.
- Betrixaban (sold under the name Bevyxxa) is an oral direct factor Xa inhibitor approved by the FDA in June 2017 for the prevention of thrombosis.
- Cerdulatinib is an investigational oral multikinase inhibitor targeting SYK/JAK pathways for treatment of hematologic cancers. It was granted orphan drug designation by the FDA in September 2018 for peripheral T-cell lymphoma (PTCL).