Reata Regains Exclusive Worldwide Rights of its Nrf2 Activator Product Platform from AbbVie

Reata Regains Exclusive Worldwide Rights of its Nrf2 Activator Product Platform from AbbVie

Shots:

  • AbbVie to receive $330M in cash primarily for bardoxolone, $75M up front in 2019 and the remaining value payable in installments in Q2 and Q4 2020 plus royalties on WW sales of omaveloxolone and certain next-generation Nrf2 activators
  • Reata reacquires WW rights to develop, manufacture and commercialize bardoxolone methyl (ex- Asian markets), omaveloxolone and all other next-generation Nrf2 activators. Reata also signed an amendment to its loan and security agreement with Oxford Finance LLC and Silicon Valley Bank will receive $75M either for positive results of bardoxolone for Alport syndrome or omaveloxolone in patients with Friedreich’s ataxia
  • Bardoxolone and omaveloxolone are investigational candidates targeting transcription factor Nrf2 that promotes restoration of mitochondrial function, reduction of oxidative stress, and inhibition of pro-inflammatory signaling

Click here to­ read full press release/ article | Ref: GlobeNewswire | Image: Twitter