Navigation Links
Oxford Finance Corporation Facilitates Entry for Reata Pharmaceuticals into Asian Markets
Date:5/17/2010

ALEXANDRIA, Va., May 17 /PRNewswire/ -- Oxford Finance Corporation (Oxford), a subsidiary of Sumitomo Corporation, today announced that its ongoing strategy to offer value beyond its core product, senior secured debt, has provided substantial growth opportunities for its portfolio company, Reata Pharmaceuticals (Reata). Oxford provided a $15 million senior loan facility to Reata in 2007 and participated in a recent $32 million Series F equity round.  Oxford also introduced Reata to another Sumitomo Corporation subsidiary, Summit Pharmaceuticals International (SPI), which identified licensing opportunities for Reata in Japan as part of Sumitomo's integrated service to Oxford's portfolio companies.

These strategic business relationships resulted in an agreement between Kyowa Hakko Kirin, a leading biopharmaceutical company in Japan, and Reata that provides Kyowa Hakko Kirin exclusive rights to develop and commercialize Reata's lead compound, bardoxolone methyl, in Japan and other selected Asian markets.  Under the terms of the agreement, Reata is eligible to receive up to $272 million in upfront and milestone payments, as well as escalating double-digit royalties.

"From the beginning of our business relationship in 2007, Reata has taken full advantage of the breadth of services Oxford offers its clients," said J. Alden Philbrick, president and chief executive officer of Oxford Finance Corporation.  "Access to Asian markets is a huge opportunity for Reata, and we congratulate them on their successful execution of their agreement."

"Our relationship with Oxford began with Reata's need for funds to support the growth of our business," said Warren Huff, chief executive officer and president of Reata Pharmaceuticals. "Beyond providing capital, Oxford brought additional value to our company by offering resources that led to a highly beneficial partnering opportunity in Japan."

About Oxford Finance Corporation

A subsidiary of Sumitomo Corporation, Oxford is a specialty finance firm providing senior secured loans to public and private life science companies worldwide. For 20 years, Oxford has delivered flexible financing solutions to its clients, enabling these companies to maximize their equity by leveraging their assets. In recent years, Oxford has originated over $1 billion in loans, with lines of credit ranging from $500 thousand to $30 million. Oxford is headquartered in Alexandria, Virginia, with additional offices in California and Massachusetts. For more information, visit www.oxfordfinance.com.

About Reata Pharmaceuticals, Inc.

Reata is the leader in discovering and developing novel anti-inflammatory drugs targeting Nrf2, which controls the body's production of antioxidant and detoxification enzymes and has been shown to protect against a broad range of diseases associated with inflammation and oxidative stress.  Reata is developing a portfolio of AIMs for a variety of inflammation-related diseases, including renal/cardiovascular diseases, respiratory diseases (COPD), CNS diseases, cancer, and autoimmune diseases.  The company's most advanced program is in pivotal trials for the treatment of CKD.  For more information, visit www.reatapharma.com.


'/>"/>
SOURCE Oxford Finance Corporation
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Oxford Finance Corporation Closes $25 Million Credit Facility with EUSA Pharma
2. Oxford BioTherapeutics and GlaxoSmithKline Form Strategic Alliance to Develop Novel Cancer Therapeutic Antibodies
3. P&M Corporate Finance and Robin Young Announce 2010 Spine Technology Summit
4. GlaxoSmithKline Responds to US Senate Committee on Finance Report on Avandia
5. Alexza Pharmaceuticals Promotes Mark K. Oki to Vice President, Finance and Controller
6. Spherix to Present at Annual OneMedPlace Finance Forum and at EBD Biotech Showcase in San Francisco
7. PhRMA Statement on Senate Finance Committee Vote
8. Marc J. Fagel of the U.S. Securities and Exchange Commission to Discuss SEC Enforcement at CBIs Biotech/Pharma Finance and Accounting Forum in San Francisco
9. Paratek Pharmaceuticals Announces the Close of $40 Million Private Placement to Finance Programs to Combat MRSA Infections
10. Somanetics Corporation Announces 24 Clinical Abstracts on INVOS System Presented at Annual Pediatric Academic Societies National Conference
11. Curexo Technology Corporation Raises $13.2 Million
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/2/2017)... 2, 2017  Eli Lilly and Company (NYSE: ... the third quarter of 2017 on Tuesday, October 24, ... that day with the investment community and media to ... conference call will begin at 9 a.m. Eastern time. ... live webcast of the conference call through a link ...
(Date:10/2/2017)... 2017 The Rebound mobile app is poised to ... the tide of prescription drug addiction. The app empowers users ... and stepping down their dosage in a safe, controlled manner ... 2017; the first 100,000 people to sign up will enjoy ... ...
(Date:9/27/2017)... -- Commended for their devotion to personalized service, SMP Pharmacy Solutions ... in the South Florida Business Journal,s 50 Fastest-Growing Companies, and ... the national specialty pharmacy has found its niche.  To that ... be honored by SFBJ as the 2017 Power Leader in ... receive his award in October, Bardisa said of the three ...
Breaking Medicine Technology:
(Date:10/13/2017)... , ... October 13, 2017 , ... The Visiting Nurse ... Market. Featuring a collection of specialty vendors and unique items from across the nation, ... quality-focused health and wellness services offered by the VNA. The boutique will be ...
(Date:10/13/2017)... (PRWEB) , ... October 13, 2017 , ... ... will be giving viewers the lowdown on sciatica in a new episode of ... that focuses on current events and innovation and investigates each subject in-depth with ...
(Date:10/12/2017)... ... October 12, 2017 , ... First Healthcare Compliance (FHC), an ... showcase a range of technology and learning solutions at the 68th Annual American ... to be held October 14–18, 2017 at the Mandalay Bay Resort in Las ...
(Date:10/12/2017)... ... October 12, 2017 , ... IsoComforter, Inc. ( ... today the introduction of an innovative new design of the shoulder pad. The ... get maximum comfort while controlling your pain while using cold therapy. By utilizing ice ...
(Date:10/12/2017)... ... October 12, 2017 , ... ... has recently contributed a medical article to the newly revamped Cosmetic Town ... article spotlights the hair transplant procedure known as Follicular Unit Extraction ...
Breaking Medicine News(10 mins):