Reata, Abbott deal

Reata granted Abbott exclusive rights outside the U.S. and certain Asian markets to develop and commercialize bardoxolone for chronic kidney disease (CKD) and cardiovascular and metabolic indications. The small molecule activator of nuclear factor (erythroid-derived 2)-like 2 ( NFE2L2; NRF2) is in Phase II testing to treat CKD in patients with Type II diabetes; Phase III testing in Type II diabetes patients with advanced CKD is slated for year end or early 2011. Reata will receive $450 million, including an upfront payment, "very near-term" milestones and an undisclosed equity investment from Abbott, and is eligible for $350 million in additional milestones, plus royalties. ...