Portola Pharmaceuticals Announces Retirement of Dr. John Curnutte, Executive Vice President and Head of Research and Developm...
April 24 2019 - 8:30AM
Portola Pharmaceuticals, Inc.® (Nasdaq: PTLA) today announced
that Dr. John Curnutte, M.D., Ph.D., Executive Vice President and
Head of Research and Development, will retire on May 17, 2019,
after more than eight years of distinguished service. Dr. Curnutte
will remain in a consultancy role, providing guidance to Portola’s
President and Chief Executive Officer Scott Garland and engaging
with key academic and scientific thoughtleaders in the field on the
ongoing development of Andexxa® [coagulation factor Xa
(recombinant), inactivated-zhzo] and cerdulatinib.
“On behalf of the entire Portola team, I would
like to thank John for shepherding Portola’s unique portfolio of
potentially life-saving medicines through various stages of
development and regulatory approval, and for his unwavering
commitment to patients,” said Mr. Garland. “John leaves behind a
significant legacy of scientific accomplishment and we are grateful
that the Company will continue to benefit from his guidance and
counsel while he shifts his primary focus to spending more time
with his family and grandchildren.”
Dr. Curnutte said: “I am incredibly fortunate to
have worked with such talented and passionate individuals, and to
have had the opportunity to advance several truly innovative
compounds with the potential to transform patient outcomes. I look
forward to continuing to raise awareness and understanding of the
clinical benefits of Andexxa while also helping to expand its
potential to benefit even more patients.”
Moving forward, and effective May 1, 2019, the
Company’s research efforts will be led by Pamela Conley, Ph.D.,
Senior Vice President of Research, who has contributed to the
discovery and development of Portola’s portfolio for more than 15
years. The Company expects to name a permanent Chief Medical
Officer upon completion of the previously announced executive
search. During the transition period, Portola’s Vice President of
Medical Affairs, Jeff Myers, M.D., Ph.D., will serve as interim
Chief Medical Officer. Dr. Myers is a former pediatric cardiac
surgeon with extensive experience leading Medical Affairs for a
number of large biotech and pharmaceutical companies, including
Gilead Sciences, Inc. and Genzyme.
About Portola Pharmaceuticals,
Inc.Portola Pharmaceuticals is a commercial-stage
biopharmaceutical company focused on the discovery, development and
commercialization of novel therapeutics that could significantly
advance the fields of thrombosis and other hematologic diseases.
The Company’s two FDA-approved medicines are Andexxa®
[coagulation factor Xa (recombinant), inactivated-zhzo], the first
and only antidote for patients treated with rivaroxaban or apixaban
when reversal of anticoagulation is needed due to life-threatening
or uncontrolled bleeding, and Bevyxxa® (betrixaban), the first
and only oral, once-daily Factor Xa inhibitor for the prevention of
VTE in adult patients hospitalized for an acute medical illness.
The company also is advancing cerdulatinib, a Syk/JAK inhibitor for
the treatment of hematologic cancers.
Forward-Looking Statements Statements contained
in this press release regarding matters that are not historical
facts are "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Because such
statements are subject to risks and uncertainties, actual results
may differ materially from those expressed or implied by such
forward-looking statements. Such statements include, but are not
limited to, statements regarding the growth potential for Portola
and potential of Portola’s products. Risks that contribute to the
uncertain nature of the forward-looking statements include: the
risk that physicians, patients and payers may not see the benefits
of utilizing Andexxa or Bevyxxa for the indications which they are
approved; our ability to continue to manufacture our products and
to expand approved manufacturing facilities; the possibility of
unfavorable results from additional clinical trials involving
Andexxa; the risk that the EMA may not approve Andexxa in the
currently anticipated timelines or at all, and that any marketing
approvals or reimbursement limitations may have significant
limitations on its use; the risk that Portola may not obtain
additional regulatory approvals necessary to expand approved
indications for Andexxa; our expectation that we will incur losses
for the foreseeable future and will need additional funds to
finance our operations; the accuracy of our estimates regarding
expenses and capital requirements; our ability to successfully
build a hospital-based sales force and commercial infrastructure;
our ability to obtain and maintain intellectual property protection
for our product candidates; and our ability to retain key
scientific or management personnel. These and other risks and
uncertainties are described more fully in our most recent filings
with the Securities and Exchange Commission, including our
most recent quarterly report on Form 10-Q. All forward-looking
statements contained in this press release speak only as of the
date on which they were made. We undertake no obligation to update
such statements to reflect events that occur or circumstances that
exist after the date on which they were made.
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Investor Contact: |
Media Contact: |
Cara Miller |
Julie Normart |
Portola Pharmaceuticals |
Pure Communications |
ir@portola.com |
jnormart@purecommunications.com |
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