A year after landing a $450-million up-front deal with Abbott for its lead antioxidant inflammation modulator (AIM) bardoxolone methyl, Reata Pharmaceuticals Inc. hit the rewind button, gaining another one-time $400 million license payment from the pharma giant to develop the rest of its second-generation AIM portfolio.
Last September's deal, for the exclusive rights to develop and commercialize bardoxolone methyl outside the U.S., excluding certain Asian markets, was one of the largest up-front offerings in biotech history u especially impressive considering that it covered a single compound. (See BioWorld Today, Sept. 24, 2010.)
Although the new global pact covers an entire portfolio, it still ranks among the largest disclosed up-front preclinical deals ever and fattens Abbott's 2011 shopping cart. In June, the Abbott Park, Ill.-based pharma paid Biotest AG $85 million up front as …
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