South San Francisco-based Portola Pharmaceuticals has rounded up a whopping $70 million in its third round of financing. Portola plans to use the money to advance its two clinical candidates: PRT054021, an oral Factor Xa inhibitor, and PRT060128, an IV and oral ADP receptor antagonist. Based on positive data from a Phase II study of PRT054021, the company says it will advance the program into further clinical trials. Portola has completed its Phase I clinical studies for both the IV and oral formulations of its second clinical program, PRT060128, and is planning its Phase II program, which will begin in the second half of 2007. New investors including Brookside Capital, AllianceBernstein, Teachers' Private Capital, Goldman Sachs, T. Rowe Price, IBTM and CIDC.
- check out this release on the round for more