Portola signs licensing agreement with Novartis for anti-clotting drug

Elinogrel has shown potential to offer clinical improvements over current anti-clotting medications in helping patients avoid heart attacks and strokes, the company said.

Under terms of the agreement, Novartis will make an upfront cash payment to Portola of $75 million. Portola is eligible to receive additional cash payments totaling up to $500 million upon achievement of certain development, regulatory and commercialization milestones. Portola will also receive royalties on worldwide net sales of elinogrel. In addition, Portola has an option to co-promote elinogrel in the US limited to hospitals and specialty markets.

Novartis will fund all future Phase III clinical trials of elinogrel and share costs of ongoing and planned Phase II trials. The agreement also provides Portola with an option to co-fund Phase III clinical trials and other development activities in return for additional royalties.

Portola, together with Novartis, plans to further develop elinogrel to treat patients with acute coronary syndromes and broadly in patients with a prior heart attack or stroke, and those with peripheral vascular disease.

Charles Homcy, president and CEO of Portola, said: Novartis is a global leader in cardiovascular drug development and marketing, which makes it an ideal partner to help us achieve elinogrel’s therapeutic and market potential. By combining their strengths with our own R&D expertise in thrombosis, we have a great opportunity to significantly improve the lives of millions of patients worldwide.