Portola Pharmaceuticals Appoints John H. Johnson to Board of Directors
18 Mars 2014 - 1:00PM
Portola Pharmaceuticals (Nasdaq:PTLA) today announced the
appointment of John H. Johnson to its board of directors effective
March 26, 2014. Mr. Johnson currently serves as chairman, president
and chief executive officer of Dendreon Corporation.
"We're thrilled to add John, a prestigious industry leader, to
the Portola Board. John's strategic capabilities and his experience
in oncology and biologics manufacturing will serve Portola well as
we advance our potential groundbreaking drugs through late stage
development and commercialization," said William Lis, chief
executive officer of Portola. "Personally, I'm pleased to be
working with John again, having had prior success under his
leadership at Johnson & Johnson with the anticoagulant
XARELTO."
"I am delighted to join Portola's board of directors at such an
exciting time in the Company's history. Portola has successfully
advanced three innovative pipeline products into the clinic setting
that may significantly improve the care of patients with blood
clots and blood cancers," said John H. Johnson. "I look forward to
leveraging my experience in launching and commercializing
innovative products to help Portola independently further its
wholly-owned assets and create value for its shareholders."
Mr. Johnson's career in the pharmaceutical and biotechnology
industry spans more than 30 years. Prior to joining Dendreon, Mr.
Johnson was chief executive officer and a member of the board of
directors of Savient Pharmaceuticals, Inc. Before that, he served
as president of Eli Lilly & Company's Oncology Unit, following
the company's acquisition of Imclone Systems, Inc., for which he
served as chief executive officer. Prior to Imclone, he was the
company group chairman of Johnson & Johnson's
biopharmaceuticals unit, where he was responsible for the
biotechnology, immunology and oncology commercial businesses. Mr.
Johnson has also held several executive positions at Johnson &
Johnson, Parkstone Medical Information Systems, Inc. and
Ortho-McNeil Pharmaceutical Corp., as well as positions at Pfizer,
Inc. Mr. Johnson is the former chairman of Tranzyme Pharma, Inc. He
is currently a member of the board of directors of Cempra
Pharmaceuticals, Inc. and Histogenics. He also serves as a member
of the board of directors of the Pharmaceutical Research and
Manufacturers of America (PhRMA) and a member of the Health Section
Governing Board of Biotechnology Industry Organization (BIO).
About Portola Pharmaceuticals, Inc.
Portola Pharmaceuticals is a biopharmaceutical company
developing product candidates that have the potential to represent
significant advances in the fields of thrombosis and hematology.
The Company is advancing its three wholly-owned programs using
novel biomarker and genetic approaches that may increase the
likelihood of clinical, regulatory and commercial success of its
first-in-class therapies.
Betrixaban
Portola's lead compound, betrixaban, is an oral, once-daily
Factor Xa inhibitor being evaluated in the only biomarker-based
Phase 3 study for "hospital to home" prophylaxis of venous
thromboembolism (VTE) in acute medically ill patients. Betrixaban's
properties may be particularly suited to potentially demonstrate
efficacy without significantly increasing bleeding in this patient
population. Currently, there is no anticoagulant approved for
extended-duration VTE prophylaxis in acute medically ill patients.
Andexanet Alfa
Portola's second lead development candidate, andexanet alfa, has
the potential to be a first-in-class reversal agent to directly
reverse the effects of Factor Xa inhibitors in patients who suffer
a major bleeding episode or who require emergency surgery. Portola
has entered into clinical collaboration agreements with all of the
manufacturers of direct Factor Xa inhibitors, including
Bristol-Myers Squibb and Pfizer (Eliquis® [apixaban]), Bayer
HealthCare and Janssen Pharmaceuticals (XARELTO® [rivaroxaban]),
and Daiichi Sankyo (SavaysaTM [edoxaban]), while retaining all
decision-making and commercial rights to the program. Andexanet
alfa has been designated as a breakthrough therapy by the U.S. Food
and Drug Administration.
Cerdulatinib* (PRT2070) and PRT2607
Portola's third wholly-owned product candidate, cerdulatinib
(PRT2070), is an orally available kinase inhibitor that uniquely
inhibits two validated tumor proliferation pathways -- spleen
tyrosine kinase (Syk) and janus kinase (JAK). It is currently being
studied in patients with leukemias or lymphomas with a focus on
genetically-defined subtypes, as well as in patients who have
failed therapy due to relapse or acquired mutations. Portola's
fourth program is partnered with Biogen Idec and is focused on the
development of PRT2607, a selective Syk inhibitor.
For more information, visit www.portola.com and follow the
Company on Twitter @Portola_Pharma.
Forward-looking statement
Statements contained in this press release regarding matters
that are not historical facts are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Because such statements are subject to risks and
uncertainties, actual results may differ materially from those
expressed or implied by such forward-looking statements. Such
statements include, but are not limited to, statements regarding
Portola's ability to independently advance its drug candidates,
plans for future clinical studies, and commercialization of its
product candidates. Risks that contribute to the uncertain nature
of the forward-looking statements include: the accuracy of
Portola's estimates regarding its ability to initiate and/or
complete its clinical trials; the success of Portola's clinical
trials and the demonstrated efficacy of Portola's product
candidates thereunder; the accuracy of Portola's estimates
regarding its expenses and capital requirements; regulatory
developments in the United States and foreign countries; Portola's
ability to obtain and maintain intellectual property protection for
its product candidates; and the loss of key scientific or
management personnel. These and other risks and uncertainties are
described more fully in Portola's 2013 Annual Report on Form 10-K
filed with the Securities and Exchange Commission on March 3, 2014.
All forward-looking statements contained in this press
release speak only as of the date on which they were made. Portola
undertakes no obligation to update such statements to reflect
events that occur or circumstances that exist after the date on
which they were made.
*Cerdulatinib is a proposed International Nonproprietary Name
(pINN).
CONTACT: Investor Contact:
Alexandra Santos
Portola Pharmaceuticals
ir@portola.com
650.246.7239
Media Contact:
Joey Fleury
BrewLife
jfleury@brewlife.com
415.946.1090
Portola Pharmaceuticals (NASDAQ:PTLA)
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