SOUTH SAN FRANCISCO, Calif., Sept. 19, 2019 /PRNewswire/ -- Portola Pharmaceuticals, Inc. (Nasdaq: PTLA) today announced the appointment of Ted W. Love, M.D., to its Board of Directors. Dr. Love is a recognized industry leader with more than 25 years of experience in the discovery and development of high impact medicines.
Dr. Love currently serves as president and chief executive officer of Global Blood Therapeutics. He previously held executive positions at a number of large biopharmaceutical companies including Onyx Pharmaceuticals, Nuvelo, Inc. and Theravance, Inc. Earlier in his career, Dr. Love held a number of senior management positions at Genentech, where he oversaw the development strategy and execution that led to the approvals of six innovative medicines.
"Ted is an accomplished leader with deep scientific knowledge and an outstanding track record driving growth, advancing medical innovation and creating shareholder value," said Hollings C. Renton, Portola's Chairman of the Board. "We are pleased to welcome him to our Board during this important stage of the Company's evolution. His strategic guidance and insights will be invaluable as we continue our transition into a global, commercial organization."
"I am honored to join the Portola Board at such a significant point in the Company's history and I look forward to partnering with the Board and leadership team to help advance the Company's growth objectives, deliver life-saving medicines to patients around the world and create sustained value for shareholders," said Dr. Love.
Dr. Love holds a B.A. in molecular biology from Haverford College and an M.D. from Yale Medical School. He completed a residency in internal medicine and a fellowship in cardiology at the Massachusetts General Hospital. He currently serves on the board of directors of Amicus Therapeutics, Inc. and the Biotechnology Innovation Organization, and has served as a consultant in medicine in the Department of Cardiology at the Massachusetts General Hospital.
About Portola Pharmaceuticals, Inc.
Portola Pharmaceuticals is a global, commercial-stage biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutics that could significantly advance the fields of thrombosis and other hematologic conditions. The Company's first two commercialized products are Andexxa® [coagulation factor Xa (recombinant), inactivated-zhzo], marketed in Europe as Ondexxya® (andexanet alfa), and Bevyxxa® (betrixaban). The company also is advancing cerdulatinib, a SYK/JAK inhibitor being developed for the treatment of hematologic cancers. Founded in 2003 in South San Francisco, California, Portola has operations in the United States and Europe.
Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Such statements include, but are not limited to, statements regarding Portola's transition into a global, commercial organization, growth objectives, the potential benefits of Portola's drugs and drug candidates and potential effects on shareholder value. Risks that contribute to the uncertain nature of the forward-looking statements include: the risk that physicians, patients and payers may not see the benefits of utilizing Andexxa for the indications for which it is approved; our ability to continue to manufacture our products and to expand approved manufacturing facilities; the possibility of unfavorable results from additional clinical trials involving Andexxa; our ability to grow our commercial operations in the EU and generate product revenue within projected timelines and budget; the risk that we may not obtain additional regulatory approvals necessary to expand approved indications for Andexxa; our expectation that we will incur losses for the foreseeable future and will need additional funds to finance our operations; the accuracy of our estimates regarding expenses and capital requirements; our ability to successfully build a hospital-based sales force and commercial infrastructure; our ability to obtain and maintain intellectual property protection for our product candidates; our ability to retain key scientific or management personnel and general market conditions. These and other risks and uncertainties are described more fully in our most recent filings with the Securities and Exchange Commission, including our most recent quarterly report on Form 10-Q. All forward-looking statements contained in this press release speak only as of the date on which they were made. We undertake no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.
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