On June 24, 2020 Reata Pharmaceuticals, Inc. (Nasdaq: RETA) ("Reata" or the "Company"), a clinical-stage biopharmaceutical company, reported the receipt of $350 million related to the closing of its previously announced strategic investment from funds managed by Blackstone Life Sciences (Press release, Reata Pharmaceuticals, JUN 24, 2020, View Source [SID1234561444]). This financing includes $300 million in return for single-digit royalty payments on worldwide net sales of bardoxolone methyl ("bardoxolone") 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.

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