Abbott in further deal with Reata

US health care major Abbott Laboratories (NYSE: ABT) has entered into a second mega-million dollar licensing deal with closely-held biotech firm Reata Pharmaceuticals, this time gaining access to the latter’s early-stage molecules showing promise treating chronic diseases like rheumatoid arthritis and multiple sclerosis, the companies said Sunday, according to the Wall Street Journal, although as yet there are no official press statements by either company.

Under the new deal, Abbott will pay Texas-based Reata $400 million to gain rights to hundreds of Reata molecules that work the same way and attack the same targets as bardoxolone, a fact that the companies say reduces the risk of the transaction, reports the WSJ.

Adds to $450 accord on bardoxolone