Portola Pharmaceuticals Announces Executive Leadership Change
September 07 2018 - 8:30AM
Portola Pharmaceuticals, Inc.® (Nasdaq: PTLA) today announced that
Tao Fu, chief commercial officer, has resigned effective September
21, 2018 to pursue opportunities outside the Company.
The Company has engaged a leading executive
search firm to assist management in identifying and recruiting a
new chief commercial officer in parallel with the Company’s search
for a chief executive officer. During the transition period, Mardi
C. Dier, interim co-president and chief financial officer, will
lead the Company’s commercial activities, including the ongoing
launches of Andexxa® and Bevyxxa®. The Company will also continue
to leverage the external strategic counsel provided by its
Commercial Advisory Committee, comprising members of the Company’s
Board of Directors and expert industry consultants. Mr. Fu will
remain a consultant to the Company until March 1, 2019 to assist in
the transition of his responsibilities.
“On behalf of the entire
management team, I’d like to thank Tao for his many contributions
during a critical period in Portola’s evolution,” said Ms. Dier.
“Tao led two nearly simultaneous U.S. product launches and played
an integral role in our transition from an R&D organization
into a commercial company. We are grateful for his many
contributions and wish him all the best in future endeavors.”
Ms. Dier added: “During this transitional
period, our top priority remains the Andexxa Early Supply Program,
which we launched in May and is continuing to gain momentum, and we
are implementing a focused commercial strategy for Bevyxxa.
Additionally, we are looking forward to a number of significant
regulatory milestones that will drive the Company’s long-term
growth, including the potential U.S. regulatory approval of the
large-scale Generation 2 Andexxa manufacturing process, European
approval of andexanet alfa, and the potential regulatory path
forward for cerdulatinib, our Syk/JAK inhibitor and the third novel
compound discovered in our labs.”
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 and
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.
Investor Contact: Cara
Miller Portola Pharmaceuticals ir@portola.com
Media Contact: Christie Teller
Pure Communications cteller@purecommunications.com
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