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Reata Pharmaceuticals (Nasdaq: RETA) announced the appointment of Martin W. Edwards, M.D. to its Board of Directors, effective August 3, 2020. Dr. Edwards has extensive experience in drug development and held senior roles at Novo Nordisk. He is currently a Senior Partner at Novo Holdings and serves on the boards of Inozyme Pharma, Kalvista Pharmaceuticals, and Verona Pharma. The addition of Dr. Edwards is expected to enhance Reata's strategic direction as it aims to advance its clinical candidates, bardoxolone methyl and omaveloxolone, targeting serious diseases.
Reata Pharmaceuticals (Nasdaq: RETA) announced the initiation of the BARCONA study at NYU Grossman School of Medicine to explore the effects of bardoxolone methyl on COVID-19 patients. The Phase 2 Investigator-Sponsored Trial will focus on assessing safety and is prompted by the high incidence of acute kidney injury among COVID-19 patients. Bardoxolone has shown anti-inflammatory properties in prior studies involving over 3,000 patients with chronic kidney disease. Reata is supplying the drug for this trial, aiming to further research the therapeutic potential of bardoxolone.
Reata Pharmaceuticals (Nasdaq: RETA) has expanded its leadership team with key appointments aimed at strengthening its research and development capabilities. Colin J. Meyer, previously Chief Medical Officer, has been promoted to Chief Research and Development Officer. New hires include Seemi Khan as Chief Medical Officer and Andrea Loewen as Vice President of Global Regulatory Affairs. These changes come as Reata transitions to a multi-product, commercial-stage company, focusing on advancing its product pipeline, including bardoxolone and omaveloxolone.
Reata Pharmaceuticals (Nasdaq: RETA) announced a strategic investment totaling $350 million from funds managed by Blackstone Life Sciences. This includes $300 million for single-digit royalty payments on bardoxolone methyl's worldwide net sales and $50 million for 340,793 shares of Class A common stock at $146.72 per share. Reata focuses on developing treatments for serious diseases, with its key candidates bardoxolone and omaveloxolone targeting the Nrf2 pathway, although their safety and efficacy remain unproven.
Reata Pharmaceuticals (RETA) announced a $350 million investment led by Blackstone Life Sciences to advance the development of bardoxolone methyl, an investigational therapy for chronic kidney diseases like Alport syndrome and ADPKD. The deal includes $300 million in royalties and $50 million in equity at $146.72 per share. This funding extends Reata's cash runway through the end of 2023, allowing for strategic investments in preparation for potential drug approvals. The company will host a conference call on June 11, 2020, to discuss the investment and future plans.