Reata Pharmaceuticals, Inc. and Blackstone Life Sciences Announce $350 Million Strategic Investment

FINANCING WILL ADVANCE BARDOXOLONE AS THE FIRST POTENTIAL THERAPY FOR ALPORT SYNDROME, AS WELL AS CONTINUE DEVELOPMENT FOR OTHER RARE AND SERIOUS FORMS OF CHRONIC KIDNEY DISEASE

REATA’S CASH GUIDANCE UPDATED: RUNWAY EXTENDED THROUGH END OF 2023

REATA TO HOST CONFERENCE CALL ON JUNE 11, 2020 AT 8:30 AM ET

NEW YORK and PLANO, Texas, June 11, 2020 (GLOBE NEWSWIRE) -- Blackstone (NYSE: BX) and Reata Pharmaceuticals, Inc. (Nasdaq: RETA) (“Reata”), a clinical-stage biopharmaceutical company, today announced that funds managed by Blackstone Life Sciences (“BXLS”) will lead a $350 million royalty and equity investment in Reata to fund the development and potential commercialization of bardoxolone methyl (“bardoxolone”), an investigational once-daily oral therapy being studied for chronic kidney disease (“CKD”) in Alport syndrome, autosomal dominant polycystic kidney disease (“ADPKD”), and other associated potential future indications. These are severe, life-threatening diseases with few or no effective therapies approved by the U.S. Food and Drug Administration (“FDA”).

Nicholas Galakatos, Ph.D., Global Head of Blackstone Life Sciences, said, “This investment aligns with Blackstone Life Sciences’ mission to help advance promising new medicines to patients with high unmet needs. If approved, bardoxolone has the potential to provide for the first time a therapy that improves the quality of life for tens of thousands of patients around the world suffering from Alport syndrome.”

“Bardoxolone has been a primary focus of our company’s research and development efforts to date,” said Warren Huff, Reata’s Chief Executive Officer and President. “We are extremely pleased that Blackstone Life Sciences has recognized the potential of bardoxolone, and the potential of Reata more generally. We are proud to enter into this strategic investment agreement with Blackstone Life Sciences.”

“Bringing the first potential therapy to Alport syndrome patients, a devastating genetic condition with no approved treatments, is very motivating,” said Paris Panayiotopoulos, Blackstone Life Sciences Senior Managing Director. “With this investment, we will support Reata in further developing bardoxolone for CKD in Alport syndrome, autosomal dominant polycystic kidney disease and multiple other chronic kidney diseases.”