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
This content piece was prepared by our former Senior Editor. She had expertise in life science research and was an avid reader. For any query reach out to us at connect@pharmashots.com