Merck & Co. and Portola Pharmaceuticals have signed a global collaboration and license agreement for the development and commercialization of betrixaban. Its an investigational oral Factor Xa inhibitor anticoagulant. Betrixaban is currently in phase II clinical development for the prevention of stroke in patients with atrial fibrillation (SPAF).
Luciano Rossetti, Senior Vice President and Franchise Head, Atherosclerosis and Cardiovascular, Merck Research Laboratories, said: Betrixaban represents an important addition to our late-stage portfolio with the potential to be a significant medicine in the Factor Xa inhibitor class. This agreement reinforces Merck’s focus on developing an innovative portfolio of products for the treatment and management of multiple aspects of cardiovascular disease.
In return for an exclusive worldwide license to betrixaban, Merck will pay Portola an initial fee of $50 million. Portola is eligible to receive additional cash payments of $420 million as well as double-digit royalties on worldwide sales of betrixaban, if approved. Merck will assume all development and commercialization costs, including the costs of phase III clinical trials. Portola has retained an option to co-fund phase III clinical trials, in return for additional royalties and to co-promote betrixaban with Merck in the US.