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 News Release - February 3, 2020

Portola Pharmaceuticals Appoints Rajiv Patni, M.D., as Executive Vice President and Chief Medical Officer

Brings to Portola 20 Years of Clinical Development and Approval Experience

SOUTH SAN FRANCISCO, Calif., Feb. 3, 2020 -- (Healthcare Sales & Marketing Network) -- Portola Pharmaceuticals, Inc.® (Nasdaq: PTLA) today announced the appointment of Rajiv Patni, M.D., as executive vice president and chief medical officer, effective immediately. Dr. Patni brings to his new role two decades of clinical development and approval experience as a biopharmaceutical industry leader. As a member of the Executive Committee, Mr. Patni will report to Scott Garland, president and chief executive officer, and will be responsible for leading Clinical Development, Clinical Operations, Medical Affairs, Regulatory Affairs, Biometrics, Pharmacovigilance, and Data Management.

"Rajiv brings deep clinical development experience to Portola that will be invaluable as we work to establish Andexxa as the standard of care for Factor Xa patients with life-threatening or uncontrolled bleeding," said Scott Garland, Portola's president and chief executive officer. "He will focus on leading our post-market clinical studies, including label expansion, along with driving our European regulatory activities. These are key elements of our long-term growth strategy, and we look forward to his leadership in strengthening our healthcare community engagement in the U.S. and Europe further establishing the clinical and economic differentiation of Andexxa."

During his career, Dr. Patni has contributed to 8 approvals, across multiple therapeutic areas, including cardiology and neurology, in both established and growing companies. Before joining Portola, Dr. Patni was chief medical officer at Adamas Pharmaceuticals, Inc., a fully-integrated, development and commercial company focused on neurological diseases. In this role, he built out the R&D and medical affairs departments. These efforts resulted in the FDA approval of GOCOVRI®. Prior to Adamas, Dr. Patni was Chief Development Officer at Ocera Therapeutics. Earlier in his career, he held senior roles in clinical development and medical affairs in Actelion Pharmaceuticals (US affiliate), Roche and Pfizer.

"I am excited to join Portola at this pivotal time of growth," said Dr. Patni. "The Company is uniquely positioned with the first and only reversal agent for Factor Xa inhibitors, a large and rapidly growing class of medications. I am eager to contribute to Portola's mission and further enhance awareness of the potential life-saving benefits and value of Andexxa."

Dr. Patni received his M.D. from the Mount Sinai School of Medicine, and completed his training in internal medicine and cardiology at the Albert Einstein College of Medicine, where he remained as an attending physician before joining industry.

Jeff Myers, M.D., Ph.D., who has served as Portola's interim chief medical officer since May 2019, will continue in his role as the Company's senior vice president of medical affairs.

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.

Forward-Looking Statements

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 development plans, 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.

Source: Portola Pharmaceuticals

Issuer of this News Release is solely responsible for its content.
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