Monday, November 21, 2011

Portola Pharmaceuticals Raises $89M

South San Francisco-based Portola Pharmaceuticals announced Monday that it has raised $89M in a preferred stock financing round. The firm, which is developing therapeutics aimed at cardiovascular and autoimmune/inflammatory disease, said the funding came from Temasek, Eastern Capital Limited, and existing investors. Portola said the funds wlil go towards betrixaban, which is in Phase 3 clinical development for inhibiting the activity of Factor Xa, which is involved in controlling coagulation of blood. More information »