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Venture-backed biopharma Portola eyes $127m Nasdaq IPO

8 May 2013

Venture-backed biopharmaceutical company Portola Pharmaceuticals is targeting $127m from its listing on Nasdaq.

The US-based company previously received investment from Singapore sovereign wealth fund Temasek Holdings, which is its largest shareholder, with a 13.9 per cent stake.

To date Portola has received over $300m of private investment. Other investors include venture capital firms Advanced Technology Ventures, Brookside Capital, Eastern Capital, Frazier Healthcare, MPM Capital, Prospect Venture Partners and Sutter Hill Ventures.

Morgan Stanley and Credit Suisse are acting as the joint book-running managers for the offering. Cowen and Company and William Blair are acting as co-managers. Portola will offer 6.9 million shares priced between $13 to $16.

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