Common use of FOR IMMEDIATE RELEASE Clause in Contracts

FOR IMMEDIATE RELEASE. News Abbot and Reata Pharmaceuticals Announce Agreement to Develop and Commercialize Bardoxolone Methyl for Chronic Kidney Disease ABBOTT PARK, Ill. and IRVING, Texas, September 23, 2010 – Abbott and Reata Pharmaceuticals today announced that they have entered into a collaboration agreement to develop and commercialize bardoxolone methyl (bardoxolone), which is currently in late Phase 2 trials for the treatment of chronic kidney disease (CKD). Under the terms of the agreement, Reata will grant to Abbott exclusive rights to develop and commercialize bardoxolone outside the U.S., excluding certain Asian markets. Reata will receive upfront and near term cash payments of $450 million for the licensing rights to bardoxolone and a minority equity investment in the company. Upon completion of certain development and approval objectives for bardoxolone and other molecules in the licensed territories, Reata will receive additional milestone payments. Reata also will receive royalties on any future product sales in the Abbott territories. Additionally, Abbott obtains rights to develop and commercialize certain other Reata compounds for chronic kidney disease, and for cardiovascular and metabolic indications, in these territories. “Early clinical studies suggest that bardoxolone could be a significant improvement to the current standard of care for CKD and possibly prevent patients from progressing to the later stages of the disease and dialysis,” said Xxxx Xxxxxxx, M.D., senior vice president, pharmaceuticals, research and development, Abbott. “This agreement builds on Xxxxxx’x existing experience in renal care, while adding a promising compound to our later-stage pipeline.” Bardoxolone is an oral, first-in-class antioxidant inflammation modulator that works by increasing the estimated glomerular filtration rate (eGFR) of the kidneys. In two Phase 2 clinical trials, bardoxolone significantly improved kidney function in patients with advanced CKD and Type 2 diabetes. CKD currently affects more than 50 million adults worldwide, and the number of patients is rapidly increasing throughout the world. Specific terms in this exhibit have been redacted because confidential treatment for those terms has been requested. These redacted terms have been marked in this exhibit with three asterisks [***]. An unredacted version of this exhibit has been separately filed with the Securities and Exchange Commission. “Reata is very pleased to have Abbott as our partner and believe that its existing renal capabilities will be a great asset to the global program,” said Xxxxxx Xxxx, chief executive officer of Reata. “This partnership allows us to meet our strategic goal of establishing our own commercial presence in the U.S. and building a sustainable, fully integrated pharmaceutical company.” This transaction does not impact Xxxxxx’x previously issued ongoing earnings-per-share guidance for 2010. Abbott expects to incur one-time specified items in the fourth quarter of 2010, primarily related to in-process research and development. About Bardoxolone Methyl Bardoxolone methyl is an antioxidant inflammation modulator (AIM) that activates Nrf2, thereby inducing the transcription of more than 250 genes that decrease the level of oxidative stress and suppress several inflammatory mediators. In two Phase 2a studies, bardoxolone methyl was shown to produce a statistically significant increase in estimated glomerular filtration rate as well as improvements in other key markers of renal function in Stage 3b and 4 CKD patients with type 2 diabetes. About Chronic Kidney Disease and Diabetic Kidney Disease (Nephropathy) CKD is a highly prevalent condition, affecting more than 50 million adults around the world. Half of CKD patients also have diabetes, a percentage that is expected to grow as rates of diabetes increase. Diabetes is the leading cause of CKD, with as many as 30 to 40 percent of Type 2 diabetics developing the disease. Available therapies modestly slow the progression of CKD, and patients ultimately progress to dialysis. About Reata Pharmaceuticals Reata Pharmaceuticals is the leader in discovering and developing novel, oral anti-inflammatory drugs that activate Nrf2, the primary regulator of cellular antioxidant and detoxification enzymes. Activation of this important biological target protects against a broad range of diseases associated with inflammation and oxidative stress. Reata is developing bardoxolone methyl, its lead product candidate, as the first disease-modifying treatment for chronic kidney disease. In January 2010, Reata and Kyowa Hakko Kirin announced a licensing agreement providing KHK with the exclusive rights to develop and commercialize bardoxolone in Japan and other selected Asian markets. Specific terms in this exhibit have been redacted because confidential treatment for those terms has been requested. These redacted terms have been marked in this exhibit with three asterisks [***]. An unredacted version of this exhibit has been separately filed with the Securities and Exchange Commission. For more information please visit the company’s Web site at xxx.xxxxxxxxxxx.xxx.

Appears in 2 contracts

Samples: License Agreement (Reata Pharmaceuticals Inc), License Agreement (Reata Pharmaceuticals Inc)

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FOR IMMEDIATE RELEASE. News Abbot Abbott and Reata Pharmaceuticals Announce Agreement to Develop and Commercialize Bardoxolone Methyl Next-Generation Antioxidant Inflammation Modulators • Agreement Calls for Chronic Kidney Disease 50/50 Global Profit Share for Multiple New Molecules • Companies Plan to Explore Broad Therapeutic Potential of AIM Class ABBOTT PARK, Ill. and IRVING, Texas, September 23December XX, 2010 2011 – Abbott and Reata Pharmaceuticals today announced that they have entered into a worldwide collaboration agreement to jointly develop and commercialize bardoxolone methyl Reata’s portfolio of second-generation oral antioxidant inflammation modulators (bardoxolone), which is currently in late Phase 2 trials for the treatment of chronic kidney disease (CKDAIMs). Under The agreement is in addition to the terms of partnership between the agreement, two companies announced in September 2010 in which Reata will grant granted to Abbott exclusive rights to develop and commercialize its lead AIM compound, bardoxolone methyl, outside of the U.S.United States, excluding certain Asian markets. The collaboration announced today is a global agreement and includes a large number of molecules in a broad range of therapeutic areas, including pulmonary, central nervous system disorders and immunology. Abbott and Reata will receive upfront equally share costs and near term cash payments profits for all new AIMs in all newly licensed indications except for rheumatoid arthritis and select other autoimmune diseases, in which Abbott will take 70 percent of costs and profits and Reata will take 30 percent. The deal also includes a research agreement in which the companies will work together to discover new molecules that exhibit the same pharmacology as the AIMs already in Reata’s pipeline. Abbott will make a one-time license payment of $450 400 million for to Reata. The companies expect the licensing rights first compound in this collaboration to bardoxolone and a minority equity investment enter into human clinical trials in the company2012. Upon completion of certain development and approval objectives for bardoxolone and other molecules in the licensed territories, Reata will receive additional milestone payments. Reata also will receive royalties on any future product sales in the “We are excited to work with Abbott territories. Additionally, Abbott obtains rights to develop this promising class of compounds,” Reata CEO Xxxxxx Xxxx said. “This deal helps Reata advance new molecules into clinical development in multiple important diseases and commercialize certain other Reata compounds for enables our company to build a global commercial presence.” AIMs are potent activators of the transcription factor Nrf2. Activation of Nrf2 promotes the production of a wide range of antioxidant, detoxification, and anti-inflammatory genes. Activation of Nrf2 also inhibits NF- K B, a transcription factor that regulates many pro-inflammatory enzymes. Suppression of Nrf2 and activation of NF- K B have been associated with numerous chronic diseases, including multiple sclerosis, rheumatoid arthritis, chronic kidney disease, neurodegenerative disease and for cardiovascular COPD. Therefore, agents that activate Nrf2 and metabolic indications, inhibit NF- K B may be beneficial in the treatment of these territorieschronic diseases. Specific terms in this Exhibit have been redacted because such terms are both not material and are of the type that the Company treats as private or confidential. These redacted terms have been marked in this Exhibit with three asterisks [***]. “Early clinical studies suggest that bardoxolone could be a significant improvement This partnership allows Abbott to the current standard of care for CKD and possibly prevent patients from progressing to the later stages of the disease and dialysisenhance its promising research pipeline across multiple therapeutic areas,” said Xxxx Xxxxxxx, M.D., senior vice president, pharmaceuticals, research and development, Abbott. “This agreement builds on Xxxxxx’x existing experience Accumulating data has established the potential for antioxidant inflammation modulators in renal careneuroscience and immunology, while adding a promising compound and we look forward to expanding our later-stage pipelineknowledge through further research.” Bardoxolone is Under an oralagreement reached in September 2010, first-in-class antioxidant inflammation modulator that works by increasing the estimated glomerular filtration rate (eGFR) Reata granted to Abbott exclusive rights to develop and commercialize its lead AIM compound, bardoxolone methyl, outside of the kidneysUnited States, excluding certain Asian markets. In two Reata retains U.S. development and commercialization rights. Reata and Abbott are currently conducting the BEACON study, a multi-national Phase 2 3 clinical trials, trial of bardoxolone significantly improved kidney function methyl in patients with advanced CKD stage 4 chronic kidney disease and Type 2 diabetes. CKD currently affects more than 50 million adults worldwide, and the number of patients is rapidly increasing throughout the world. Specific terms in this exhibit have been redacted because confidential treatment for those terms has been requested. These redacted terms have been marked in this exhibit with three asterisks [***]. An unredacted version of this exhibit has been separately filed with the Securities and Exchange Commission. “Reata is very pleased to have Abbott as our partner and believe that its existing renal capabilities will be a great asset to the global program,” said Xxxxxx Xxxx, chief executive officer of Reata. “This partnership allows us to meet our strategic goal of establishing our own commercial presence in the U.S. and building a sustainable, fully integrated pharmaceutical company.” This transaction does not impact Xxxxxx’x previously issued ongoing earnings-per-share guidance for 2010. Abbott expects to incur one-time specified items in the fourth quarter of 2010, primarily related to in-process research and development. About Bardoxolone Methyl Bardoxolone methyl is an antioxidant inflammation modulator (AIM) that activates Nrf2, thereby inducing the transcription of more than 250 genes that decrease the level of oxidative stress and suppress several inflammatory mediators. In two Phase 2a studies, bardoxolone methyl was shown to produce a statistically significant increase in estimated glomerular filtration rate as well as improvements in other key markers of renal function in Stage 3b and 4 CKD patients with type 2 diabetes. About Chronic Kidney Disease and Diabetic Kidney Disease (Nephropathy) CKD is a highly prevalent conditionReata Pharmaceuticals, affecting more than 50 million adults around the world. Half of CKD patients also have diabetesInc. Reata Pharmaceuticals, a percentage that is expected to grow as rates of diabetes increase. Diabetes is the leading cause of CKD, with as many as 30 to 40 percent of Type 2 diabetics developing the disease. Available therapies modestly slow the progression of CKD, and patients ultimately progress to dialysis. About Reata Pharmaceuticals Reata Pharmaceuticals Inc. is the leader in discovering and developing novel, oral anti-anti- inflammatory drugs that activate Nrf2, the primary regulator of cellular antioxidant and detoxification enzymes, and suppress NFkB, the primary regulator of inflammatory genes. Activation Reata is developing these compounds – called antioxidant inflammation modulators (AIMs) – with the goal of this important biological target protects against one day making them available to patients suffering from a broad range of diseases associated with inflammation and oxidative stress. Reata is developing bardoxolone methylplans to build a stand-alone, its lead product candidatefully integrated pharmaceutical company with a worldwide medical, as the first disease-modifying treatment for chronic kidney disease. In January 2010commercial, Reata and Kyowa Hakko Kirin announced a licensing agreement providing KHK with the exclusive rights to develop and commercialize bardoxolone in Japan and other selected Asian markets. Specific terms in this exhibit have been redacted because confidential treatment for those terms has been requested. These redacted terms have been marked in this exhibit with three asterisks [***]. An unredacted version of this exhibit has been separately filed with the Securities and Exchange Commissionregulatory presence. For more information information, please visit the company’s Web site at xxx.xxxxxxxxxxx.xxx.

Appears in 1 contract

Samples: Collaboration Agreement (Reata Pharmaceuticals Inc)

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FOR IMMEDIATE RELEASE. News Abbot and Reata Pharmaceuticals Announce Agreement to Develop and Commercialize Bardoxolone Methyl for Chronic Kidney Disease ABBOTT PARK, Ill. and IRVING, Texas, September 23, 2010 – Abbott and Reata Pharmaceuticals today announced that they have entered into a collaboration agreement to develop and commercialize bardoxolone methyl (bardoxolone), which is currently in late Phase 2 trials for the treatment of chronic kidney disease (CKD). Under the terms of the agreement, Reata will grant to Abbott exclusive rights to develop and commercialize bardoxolone outside the U.S., excluding certain Asian markets. Reata will receive upfront and near term cash payments of $450 million for the licensing rights to bardoxolone and a minority equity investment in the company. Upon completion of certain development and approval objectives for bardoxolone and other molecules in the licensed territories, Reata will receive additional milestone payments. Reata also will receive royalties on any future product sales in the Abbott territories. Additionally, Abbott obtains rights to develop and commercialize certain other Reata compounds for chronic kidney disease, and for cardiovascular and metabolic indications, in these territories. “Early clinical studies suggest that bardoxolone could be a significant improvement to the current standard of care for CKD and possibly prevent patients from progressing to the later stages of the disease and dialysis,” said Xxxx Xxxxxxx, M.D., senior vice president, pharmaceuticals, research and development, Abbott. “This agreement builds on Xxxxxx’x existing experience in renal care, while adding a promising compound to our later-stage pipeline.” Bardoxolone is an oral, first-in-class antioxidant inflammation modulator that works by increasing the estimated glomerular filtration rate (eGFR) of the kidneys. In two Phase 2 clinical trials, bardoxolone significantly improved kidney function in patients with advanced CKD and Type 2 diabetes. CKD currently affects more than 50 million adults worldwide, and the number of patients is rapidly increasing throughout the world. Specific terms in this exhibit Exhibit have been redacted because confidential treatment for those such terms has been requestedare both not material and are of the type that the Company treats as private or confidential. These redacted terms have been marked in this exhibit Exhibit with three asterisks [***]. An unredacted version of this exhibit has been separately filed with the Securities and Exchange Commission. “Reata is very pleased to have Abbott as our partner and believe that its existing renal capabilities will be a great asset to the global program,” said Xxxxxx Xxxx, chief executive officer of Reata. “This partnership allows us to meet our strategic goal of establishing our own commercial presence in the U.S. and building a sustainable, fully integrated pharmaceutical company.” This transaction does not impact Xxxxxx’x previously issued ongoing earnings-per-share guidance for 2010. Abbott expects to incur one-time specified items in the fourth quarter of 2010, primarily related to in-process research and development. About Bardoxolone Methyl Bardoxolone methyl is an antioxidant inflammation modulator (AIM) that activates Nrf2, thereby inducing the transcription of more than 250 genes that decrease the level of oxidative stress and suppress several inflammatory mediators. In two Phase 2a studies, bardoxolone methyl was shown to produce a statistically significant increase in estimated glomerular filtration rate as well as improvements in other key markers of renal function in Stage 3b and 4 CKD patients with type 2 diabetes. About Chronic Kidney Disease and Diabetic Kidney Disease (Nephropathy) CKD is a highly prevalent condition, affecting more than 50 million adults around the world. Half of CKD patients also have diabetes, a percentage that is expected to grow as rates of diabetes increase. Diabetes is the leading cause of CKD, with as many as 30 to 40 percent of Type 2 diabetics developing the disease. Available therapies modestly slow the progression of CKD, and patients ultimately progress to dialysis. About Reata Pharmaceuticals Reata Pharmaceuticals is the leader in discovering and developing novel, oral anti-inflammatory drugs that activate Nrf2, the primary regulator of cellular antioxidant and detoxification enzymes. Activation of this important biological target protects against a broad range of diseases associated with inflammation and oxidative stress. Reata is developing bardoxolone methyl, its lead product candidate, as the first disease-modifying treatment for chronic kidney disease. In January 2010, Reata and Kyowa Hakko Kirin announced a licensing agreement providing KHK with the exclusive rights to develop and commercialize bardoxolone in Japan and other selected Asian markets. Specific terms in this exhibit Exhibit have been redacted because confidential treatment for those such terms has been requestedare both not material and are of the type that the Company treats as private or confidential. These redacted terms have been marked in this exhibit Exhibit with three asterisks [***]. An unredacted version of this exhibit has been separately filed with the Securities and Exchange Commission. For more information please visit the company’s Web site at xxx.xxxxxxxxxxx.xxxxxx.xxxxxxxxxxx.xxx .

Appears in 1 contract

Samples: License Agreement (Reata Pharmaceuticals Inc)

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