Portola Pharmaceuticals

Company: Portola Pharmaceuticals
Financing: $70 million
Website: http://www.portola.com/

In May, South San Francisco-based Portola Pharmaceuticals scored an impressive $70 million in its third round of financing. The lengthy list of investors includes Brookside Capital, AllianceBernstein, Teachers' Private Capital, Goldman Sachs, T. Rowe Price, IBTM, CIDC, Abingworth, Alta Partners, Advanced Technology Ventures, Frazier Healthcare, MPM Capital, Prospect Ventures and Sutter Hill Ventures.

The company’s lead drug is PRT054021, a therapy for prevention and treatment of deep vein thrombosis and pulmonary embolism after orthopedic surgery, for stroke prevention in patients with atrial fibrillation, and for secondary prevention of myocardial infarction and stroke. In July Portola turned in positive PRT054021 Phase II data for patients undergoing knee replacement surgery. Planning is underway for Phase III studies of the drug.

In addition to PRT054021, Portola has a Phase I drug--PRT060128--for acute coronary syndrome, the prevention of cardiovascular events in patients undergoing percutaneous coronary intervention and secondary prevention of MI and stroke. A Phase II trial of the drug is anticipated in the second half of this year.

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Portola pockets $70M in third round. Report
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