Portola strikes royalty deal for AndexXa

Portola Pharmaceuticals Inc. (NASDAQ:PTLA) sold mid-single digit royalties on AndexXa andexanet alfa to HealthCare Royalty Partners (Stamford, Conn.) for $50 million up front. Portola is eligible to receive another $100 million if FDA approves the candidate by Oct. 1, 2018.

Total royalty payments to the royalty firm are capped at 195% of the amount it pays Portola, or $292.5 million total...