UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
 
FORM 8-K
 
 
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 12, 2020
 
 
Portola Pharmaceuticals, Inc.
(Exact name of registrant as specified in its charter)
 
 
 
Delaware   001-35935   20-0216859
(State or other jurisdiction
of incorporation)
 
(Commission
File Number)
 
(IRS Employer
Identification No.)
270 E. Grand Avenue
South San Francisco, California
  94080
(Address of principal executive offices)   (Zip Code)
Registrant’s telephone number, including area code: (650) 246-7300
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:
 
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Securities registered pursuant to Section 12(b) of the Act:



 
         
Title of each class  
Trading
Symbol(s)
  Name of each exchange on which registered
Common Stock   PTLA   The Nasdaq Global Select Market
 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
  



Item 8.01 Other Events

On June 12, 2020, Portola Pharmaceuticals, Inc. (“Portola”) received written notice of termination from Bayer AG, successor to Bayer Pharma AG (“Bayer”) of a certain Clinical Collaboration Agreement, dated February 1, 2016, by and between Portola and Bayer (the “Agreement”). The Agreement permits termination by Bayer within 90 days of receiving written notice from Portola that its Third Party Collaboration Partner (as defined in the Agreement) has terminated the Third Party Agreement (as defined in the Agreement) with Portola for the development and commercialization of andexanet alfa in Japan as a reversal agent for Factor Xa inhibitors, including rivaroxaban.

Pursuant to the terms of the Agreement, the termination became effective on June 12, 2020 and the parties will work together to unwind the Agreement.

As disclosed by Portola on April 9, 2020, Portola informed Bayer that Portola had agreed to terminate its Collaboration and License Agreement with Bristol-Myers Squibb Company (“BMS”) and Pfizer, Inc. (“Pfizer”), and received written notice of termination from BMS and Pfizer on April 3, 2020. Following the BMS and Pfizer termination, Portola regains full rights in Japan for andexanet alfa. Currently, Japan represents the third largest market for Factor Xa inhibitors after the United States and the EU 5 countries. Portola will have exclusive rights to develop and commercialize andexanet alfa in the United States, Europe, Japan and rest of the world markets.



SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
    Portola Pharmaceuticals, Inc.
Dated: June 17, 2020    
    By:   /s/ Mike Ouimette
      Mike Ouimette
      Vice President and Assistant Corporate Secretary, Legal

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