By Lisa Kerner
Charlotte, N.C., Aug. 4 - Reata Pharmaceuticals, Inc. said it closed a $22.6 million private financing round.
Proceeds will be used to start advanced clinical studies with RTA 744 in brain cancer, conduct additional phase 2 cancer studies with RTA 401/402 and develop manufacturing processes and formulations for advanced drug candidates.
The financing round was led by Cardinal Investment Co. with participation by new investor Novo A/S.
Jack Nielsen, a partner with Novo A/S, has joined Reata's board of directors.
Reata is a Dallas biopharmaceutical company focused on developing novel treatments for cancer, inflammation and neurodegenerative diseases.
| Issuer: | Reata Pharmaceuticals, Inc.
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| Issue: | Private financing
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| Amount: | $22.6 million
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| Investors: | Cardinal Investment Co. (lead), Novo A/S
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| Announcement date: | Aug. 4
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