Portola Regains Product Rights From Merck
From Associated Press (March 24, 2011)
NEW YORK -- Portola Pharmaceuticals Inc. will regain from Merck & Co. all of its rights to a potential stroke, the company said Thursday.
The drug candidate betrixaban is being designed to prevent stroke in patients with an abnormal heart rhythm.
"Regaining full rights to betrixaban represents a transformational opportunity for Portola," said William Lis, Portola’s CEO, in a statement.
The company most recently completed a midstage study. Merck said it returned rights to the drug as part of its ongoing "prioritization" process.
Portola is privately-held and based in South San Francisco, Calif. Merck is based in Whitehouse Station, N.J.
Posted: March 2011