Reata Pharma buys back rights from AbbVie for Nrf2 activators
US biotech Reata Pharmaceuticals (Nasdaq: RETA) closed up 13% at $85.98 yesterday after it revealed it was reacquiring development, manufacturing and commercialization rights concerning its proprietary Nrf2 activator product platform originally licensed to AbbVie (NYSE: ABBV) for territories outside of the USA with respect to bardoxolone methyl and worldwide with respect to omaveloxolone and other next-generation Nrf2 activators.
As a result, Reata now owns exclusive, worldwide rights to these products, excluding certain Asian markets for bardoxolone which are licensed to Kyowa Kirin (TYO: 4151).
Both drugs target the transcription factor NRF2 and have pivotal trials, dubbed CARDINAL (bardoxolone, for patients with Alport syndrome) and MOXIe (omaveloxolone, for the rare genetic disease Friedreich's ataxia), set to give top-line results by the end of 2019.
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