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:2/11/2016)... -- AfterPill.com is reporting that this week,s Centers for Disease ... who are at risk of unintended pregnancy impacts 43 ... the risks of unprotected sex in particular.  ... the Guttmacher Institute, there are 43 million women in ... have sex without the intention of becoming pregnant.  Despite ...
(Date:2/11/2016)... 11, 2016  Proliant Biologicals is proud to announce ... (BSA) manufacturing facility.  The facility is located on the ... in Feilding. Boone , Iowa.  ... duplicate the systems in the U.S. facility, with critical ... U.S. installations.  --> Boone ...
(Date:2/11/2016)... , Feb. 11, 2016 Brain Cancer ... treatment method at West Cancer Center . ... fields to inhibit cancer cell replication causing death of ... than a decade to show a significant extension in ... (GBM) patients. Currently, West Cancer Center is the only ...
Breaking Medicine Technology:
(Date:2/11/2016)... , ... February 11, 2016 , ... ... for nominations seeking candidates for the Board of Commissioners. Individuals interested in volunteer ... and experience with diversity of clinical practice settings and across allied health to ...
(Date:2/11/2016)... ... February 11, 2016 , ... Greenfield Insurance Group in Orange ... assist the people of their local community. The agency pledges to select a ... Their hope is to bring awareness to important local causes with fundraising and ...
(Date:2/11/2016)... ... 11, 2016 , ... Duterte Insurance Group, serving the families ... new charity campaign to raise funds for Ronald McDonald House Charities. On behalf ... . , Ronald McDonald House (RMH) is an internationally renowned nonprofit organization which ...
(Date:2/11/2016)... ... February 11, 2016 , ... Be Well Medical Group (Be ... of Old Town at 108 South Columbus St, Suite 201, Alexandria, VA. Be Well ... medical care in the convenience of their homes, offices or at the practices’ local ...
(Date:2/11/2016)... CO. (PRWEB) , ... February 11, 2016 , ... ... people have become more actively engaged in health and wellness best practices in ... importance of riding this trend. February is American Heart Month, which acts as ...
Breaking Medicine News(10 mins):