Portola Pharmaceuticals Announces Retirement of CEO Bill Lis in 2018
04 Juin 2018 - 10:30PM
Portola Pharmaceuticals, Inc.® (Nasdaq:PTLA) today announced
that William Lis has informed the Board of Directors of his plans
to retire as Chief Executive Officer and member of the board. Mr.
Lis will continue to serve as CEO and member of the board through
August 1, 2018 to ensure a smooth transition, after which time he
will remain in an advisory role. Mr. Lis joined Portola in 2008.
The board has initiated an active search to
evaluate candidates to serve as the Company’s next CEO and will be
engaging a leading executive search firm to assist in the
process.
In the interim, the board has appointed John T.
Curnutte, M.D., Ph.D., and Mardi C. Dier as interim Co-Presidents
in addition to their current positions as the Company’s Executive
Vice President, Research and Development and Chief Financial
Officer, respectively.
Hollings C. Renton, Chairman of the Board, said:
“We would like to express our sincere appreciation for Bill’s
achievements as CEO. Under his leadership, Portola completed its
initial public offering, advanced multiple innovative compounds
through clinical development and received U.S. FDA approval for two
life-saving medicines. We wish him well in future endeavors.
Portola is at an important inflection point in its history as the
Company turns its focus to the successful launches of Andexxa and
Bevyxxa, and a potential third medicine progressing to late stage
development. We are committed to bringing on board a new CEO with
strong global commercial experience and the demonstrated expertise
to build on our excellent foundation and lead Portola through its
next exciting chapter.
“In the meantime, we are very pleased to have
such experienced executives as John and Mardi take on new
responsibilities within the Company. John brings decades of biotech
experience to his new position, while Mardi has skillfully led our
finance organization and been an integral part of our executive
team since 2006. We look forward to their expanded leadership roles
during this transition period,” Mr. Renton added.
Mr. Lis said: “I am incredibly proud of what we
have accomplished at Portola, and I know the best is yet to come.
Our launches of Andexxa and Bevyxxa are ongoing with strong data
and labels, and we recently presented encouraging new interim data
for our SYK/JAK inhibitor, cerdulatinib. I look forward to
working closely with the board, John and Mardi during the
transition, and I want to thank our entire team for their hard work
and dedication, which has brought Portola to where it is today –
with significant potential to meaningfully improve the lives of
patients.”
Dr. Curnutte said: “Portola continues to make
significant progress on all fronts, and we are very excited about
the opportunities that lie ahead. Mardi and I, and our entire
talented team are committed to furthering the Company’s strong
trajectory as the search for a new CEO progresses.”
Ms. Dier added: “We appreciate Bill’s leadership
over the past eight years and look forward to building on our
current momentum. In addition to supporting our two product
launches, we will be focused on scaling up our business and
infrastructure to realize the considerable potential of Portola’s
present and future life-changing medicines and to achieving
long-term growth.”
About Portola Pharmaceuticals,
Inc.Portola Pharmaceuticals is a commercial-stage
biopharmaceutical company focused on the discovery, development and
commercialization of novel therapeutics that could significantly
advance the fields of thrombosis and other hematologic diseases.
The Company’s two FDA-approved medicines are
Bevyxxa® (betrixaban), the first and only oral, once-daily
Factor Xa inhibitor, and Andexxa® [coagulation factor Xa
(recombinant), inactivated-zhzo], the first and only antidote for
the Factor Xa inhibitors rivaroxaban and apixaban. The company also
is advancing cerdulatinib, a SYK/JAK inhibitor for the treatment of
hematologic cancers.
Forward-Looking
StatementsStatements 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 the potential public health impact of Andexxa
and Bevyxxa, the timing of the anticipated Early Supply Program
launch of Andexxa, and next steps for the development of
cerdulatinib, including the potential for an accelerated approval
pathway in the U.S. for certain tumor subtypes. Risks that
contribute to the uncertain nature of the forward-looking
statements include: the risk that physicians, patients and payers
may not see the benefits of utilizing Andexxa or Bevyxxa for the
indications which they are approved; our ability to continue to
manufacture our products and to expand approved manufacturing
facilities; the possibility of unfavorable results from additional
clinical trials involving Andexxa; the risk that the EMA may not
approve Andexxa in the currently anticipated timelines or at all,
and that any marketing approvals or reimbursement limitations may
have significant limitations on its use; the risk that Portola may
not obtain additional regulatory approvals necessary to expand
approved indications for Andexxa; our expectation that we will
incur losses for the foreseeable future and will need additional
funds to finance our operations; the accuracy of our estimates
regarding expenses and capital requirements; our ability to
successfully build a hospital-based sales force and commercial
infrastructure; our ability to obtain and maintain intellectual
property protection for our product candidates; and our ability to
retain key scientific or management personnel. These and other
risks and uncertainties are described more fully in our most recent
filings with the Securities and Exchange Commission, including
our most recent quarterly report on Form 10-Q. All forward-looking
statements contained in this press release speak only as of the
date on which they were made. We undertake no obligation to update
such statements to reflect events that occur or circumstances that
exist after the date on which they were made.
Media and Investor Contact:Cara
MillerPortola Pharmaceuticals
Tel: 650-246-7024Email: ir@portola.com
Portola Pharmaceuticals (NASDAQ:PTLA)
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