Company Overview

Collaborations

In February 2009, Portola announced an exclusive worldwide license agreement with Novartis to develop and commercialize elinogrel, a direct-acting, competitive and reversible P2Y₁₂ ADP receptor antagonist. It is the only molecule within the P2Y₁₂ ADP receptor antagonist class that has both an i.v. and oral formulation, offering the potential to be the antiplatelet of choice at all points in the treatment pathway. Elinogrel has the potential to reduce the risk of death, myocardial infarction and stroke.

Under the terms of the agreement, Portola received an upfront cash payment of $75 million and is eligible to receive additional cash payments totaling up to $500 million upon achievement of certain development, regulatory and commercialization milestones. Portola will also receive royalties on worldwide net sales and has an option to co-promote elinogrel at hospitals and specialty markets in the United States. Novartis will fund all future clinical development.

In October 2011, Portola entered into an exclusive, worldwide collaboration and license agreement with Biogen Idec to develop and commercialize highly selective, novel oral Syk inhibitors for the treatment of various autoimmune and inflammatory diseases, including rheumatoid arthritis (RA) and systemic lupus erythematosus (SLE). The collaboration’s lead molecule is PRT062607, a highly potent and specific oral inhibitor of Syk.

Under the terms of the agreement, Biogen Idec will provide Portola with an upfront payment of $36 million in cash and purchase $9 million in Portola equity, with additional payments of up to $508.5 million based on the achievement of certain development and regulatory milestones. Biogen Idec will lead the global development and commercialization efforts for the Syk inhibitor program in major indications such as rheumatoid arthritis and lupus, while Portola will lead U.S. development and commercialization efforts for select smaller indications as well as discovery efforts for follow-on Syk inhibitors. Portola retains an option to co-promote alongside Biogen Idec in the United States in major indications. Worldwide costs and profits will be split by Biogen and Portola 75 percent and 25 percent, respectively.