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Portola gets $70mm through its Series C venture round; adds $60mm

Executive Summary

Portola Pharmaceuticals (cardiovascular therapeutics) has raised $70mm through the sale of Series C preferred shares. Current backers Abingworth, Alta Partners, Advanced Technology Ventures, Frazier Healthcare, MPM Capital, Prospect Ventures, and Sutter Hill Ventures were joined by new investors Brookside Capital, AllianceBernstein, Teachers' Private Capital (the investment arm of the Ontario Teachers' Pension Plan), Goldman Sachs, T. Rowe Price, IBTM, and CIDC. The company will use the proceeds to continue the development of Phase II PRT054021, an oral Factor Xa inhibitor to prevent venous thromboembolism after orthopedic procedures, and Phase I PRT060128, an oral and IV ADP receptor antagonist for acute coronary syndrome.

Deal Industry
  • Biotechnology
  • Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Financing
    • Venture Financing

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