Portola Pharma to continue collaboration with Bristol-Myers, Pfizer

|About: Portola Pharmaceuticals (PTLA)|By:, SA News Editor

Portola Pharmaceuticals (PTLA +0.9%) announces a second clinical collaboration with Bristol-Myers Squibb (BMY +1.1%) and Pfizer (PFE +0.5%) for andexanet alfa.

The companies will now move the Factor Xa inhibitor reversal agent (i.e. antidote) into Phase 3 studies with Eliquis (expected to begin in H1).

The deal will also "be in effect through ... any potential U.S. and EU regulatory approval."

PTLA will get an upfront payment and is eligible for development and regulatory milestone payments, but "retains full, worldwide commercial rights to andexanet alfa." (PR)

For reference, see here.