Biotech Values

[DewDiligence]

Portola inks Xarelto-antidote collaboration with JNJ/Bayer that mirrors the Eliquis-antidote deal Portola inked with PFE/BMY in Nov 2012 (#msg-81069705):

http://finance.yahoo.com/news/portola-enters-clinical-collaboration-agreement-130000663.html

The collaboration will be in effect throughout the Phase 2 study, which is scheduled to be completed in the second half of 2013. The study is designed to demonstrate the safety of PRT4445 at several different doses and its ability to reverse the anticoagulant activity of XARELTO. Bayer and Janssen will make an undisclosed cash payment to Portola and will provide development and regulatory guidance for the study. Portola retains all global development and commercialization rights for PRT4445.

The cash payment was presumably small; however, JNJ/Bayer at least consider the deal worthy of issuing their own PR (http://finance.yahoo.com/news/xarelto-studied-factor-xa-inhibitor-130000019.html ).

The phase-2 trial of PRT4445 mentioned above started in Dec 2012 (#msg-82410316).