NEW YORK (AP) -- Portola Pharmaceuticals Inc. will regain from Merck & Co. all of its rights to a potential stroke medicine, the company said Thursday.
The drug candidate betrixaban is being designed to prevent stroke in patients with an abnormal heart rhythm.
"Regaining full rights to betrixaban represents a transformational opportunity for Portola," said William Lis, Portola's CEO, in a statement.
The company most recently completed a midstage study. Merck said it returned rights to the drug as part of its ongoing "prioritization" process.
Portola is privately-held and based in South San Francisco, Calif. Merck is based in Whitehouse Station, N.J.
The drug candidate betrixaban is being designed to prevent stroke in patients with an abnormal heart rhythm.
"Regaining full rights to betrixaban represents a transformational opportunity for Portola," said William Lis, Portola's CEO, in a statement.
The company most recently completed a midstage study. Merck said it returned rights to the drug as part of its ongoing "prioritization" process.
Portola is privately-held and based in South San Francisco, Calif. Merck is based in Whitehouse Station, N.J.