Singapore sovereign wealth fund Temasek and Asian investment firm Eastern Capital have led an $89m financing round for Portola Pharmaceuticals, a San Francisco-based company that develops therapeutics for cardiovascular, autoimmune and inflammatory diseases.
The proceeds will enable the company to advance betrixaban, a once-daily, oral Factor Xa inhibitor, through Phase three clinical development and to advance development of its companion product, PRT064445, a recombinant Factor Xa inhibitor antidote designed to reverse anticoagulant activity in patients treated with Factor Xa inhibitors suffering major bleeds or requiring surgery.
William Lis, CEO of Portola, said, “With the capital raised, Portola can independently complete a pivotal Phase three betrixaban trial with the potential for it to be the first oral Factor Xa inhibitor to the market for both hospital and post-discharge prevention of pulmonary embolism in acute medically ill patients.
Last week news reports indicated that Temasek is among a handful of bidders in talks to buy a majority stake in Brazil’s Servicos & Tecnologia de Pagamentos, an electronic-toll-collection company that is said to be worth around $1bn.
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