AbbVie uncoupling costs Reata $330M in cold, hard cash
AbbVie, which in the process of acquiring Allergan for $63 billion, is relinquishing its license to a slate of Reata Pharmaceuticals experimental drugs, primarily bardoxolone, for $330 million in cash.
The two companies did not disclose the reason behind the divorce. Reata will pay AbbVie $75 million upfront in 2019, and the remainder over the next two years.
AbbVie had invested in a crop of Reata’s experimental small molecules engineered to bind to a gene called Keap1 to enhance the activity of the protein Nrf2 in order to defuse inflammation.
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