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Portola inks collaboration deal with Daiichi Sankyo

  • Portola Pharmaceuticals (NASDAQ:PTLA -10%) enters into a second clinical collaboration agreement with Daiichi Sankyo to study andexanet alfa, PTLA's investigational Factor Xa inhibitor antidote in a Phase 3 clinical trial with Daiichi's Factor Xa inhibitor edoxaban. Portola's first collaboration agreement covered a Phase 2 proof-of-concept study. The Phase 3 trial is expected to commence in 2015.
  • Under the terms of the agreement, Portola will receive an upfront payment as well as development- and regulatory-related milestone payments. It retains full worldwide commercial rights to andexanet alfa for which it is pursuing an Accelerated Approval pathway.

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Portola Pharmaceuticals, Inc.