Novo and AbbVie-backed Reata plans to use the proceeds to fund a series of clinical trials for its hypertension treatments.
Reata Pharmaceuticals, a US-based drug producer backed by pharmaceutical firms Novo and AbbVie, filed for an initial public offering yesterday that could raise up to $80m.
Founded in 2002, Reata is developing drugs to treat conditions such as pulmonary arterial hypertension, characterised by increased blood pressure that leads to shortness of breath, dizziness and other symptoms.
Reata has secured $480m in funding, including $78m from a 2010 round co-led by Novo and investment adviser CPMG in 2010.
The…
