Thursday, July 10, 2008

Portola Pharmaceuticals Lands $60M

South San Francisco-based Portola Pharmaceuticals said yesterday that it has raised $60M in a preferred stock financing. The firm, which is focused on developing therapeutics for cardiovascular and inflammatory disease, said the funding came from D.E. Shaw group, Adage Capital Management, BBT Capital Management/Apothecary Capital, Janus Capital Group and PAC-LINK BioVentures, along with existing investors. Portola said the funding will be used to advance Portola's two lead antithrombotic clinical candidates, betrixaban and PRT060128. More information »