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Reata Pharmaceuticals Raises $78M

Irving-based Reata Pharmaceuticals, which is developing anti-inflammatory drugs, said today that it has raised $78M in a new funding round. The round was led by CPMG and Novo AS. According to Reata, the new funding brings the company's total raised to $180M since its inception. The firm said the funding will go towards its second trail of its lead compound, Bardoxolone, targeted at treating advanced chronic kidney disease (CKD) and Type 2 diabetes. More information »