Following discussions, Portola Pharmaceuticals, Inc. (“Portola”), Bristol-Myers Squibb Company (“BMS”) and Pfizer, Inc. agreed to terminate the Collaboration and License Agreement among the parties, dated February 1, 2016, for the development and commercialization of andexanet alfa in Japan. As a result, on April 3, 2020 Portola received a written notice of termination from BMS and Pfizer and will regain full Japanese rights for andexanet alfa. 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. Pursuant to the terms of the agreement, the termination will be effective on October 2, 2020 and over the next 180 days Portola intends to work collaboratively with BMS, Pfizer and Japanese regulators to transition the andexanet alfa Japanese development and commercialization program to Portola, and advance the plans for regulatory filing. Under the terms of the original agreement, Portola received an upfront payment of $15 million and had the right to receive potential regulatory milestones of up to $20 million and sales-based milestones of up to $70 million, as well as compensation based on andexanet alfa net sales in Japan.