PLANO, Texas, June 24, 2020 (GLOBE NEWSWIRE) -- Reata Pharmaceuticals, Inc. (Nasdaq: RETA), a clinical-stage biopharmaceutical company, today announced the receipt of $350 million related to the closing of its previously announced strategic investment from funds managed by Blackstone Life Sciences. This financing includes $300 million in return for single-digit royalty payments on worldwide net sales of bardoxolone methyl by Reata and its licensees, other than Kyowa Kirin Co., Ltd., and a $50 million investment in 340,793 shares of Reata’s Class A common stock at $146.72 per share.

About Reata Pharmaceuticals, Inc.

Reata is a clinical-stage biopharmaceutical company that develops novel therapeutics for patients with serious or life-threatening diseases by targeting molecular pathways involved in the regulation of cellular metabolism and inflammation. Reata’s two most advanced clinical candidates, bardoxolone and omaveloxolone, target the important transcription factor Nrf2 that promotes restoration of mitochondrial function, reduction of oxidative stress, and inhibition of pro-inflammatory signaling. Bardoxolone and omaveloxolone are investigational drugs, and their safety and efficacy have not been established by any agency.