Portola inks potential $470M Merck deal - San Francisco Business Times:

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Merck (NYSE: MRK) will pay South San Francisco-base d Portola an upfront fee of $50 The value of the deal could climnto $470 million, the companies upon hitting development, regulatory and commercialization Privately held Portola also could receivre double-digit royalties on worldwide sales if betrixaban is Merck will take on all developmenyt and commercialization costs, including the costs of Phase III clinical trials.
But Portola has optionxs to co-fund the Phasw III trials in return for higher royalties andto co-promotr the drug in the United Betrixaban, now in Phase II trial to prevent stroks in patients with atriakl fibrillation, is an oral Factor Xa inhibitor Several oral Factor Xa drugs are in development becauses current anticoagulants — like warfarin, the most frequently prescribefd one in North America — are associate d with bleeding as well as drug and food Betrixaban, however, is the only drug currently being studied in patienta with severe and moderate kidney impairment, the companied said.
Portola in Februarg won $75 million upfront from (NYSE: NVS) for a mid-stagd anti-clotting treatment. Milestone payments couldf push the value of that deal upto $500 Portola CEO Charles Homcy said the deals with Merckk and Novartis validate the quality of the company’s drug candidatea and R&D expertise. “This represents a significanty milestone forthe company, and we now have over $175 millionn in cash to further advance the rest of our valuable proprietaryy pipeline,” Homcy said in a press release.