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Financings NEWS

Shares of Reata Pharmaceuticals Inc. (NASDAQ:RETA) climbed 18.8 percent to $13.07 from an IPO price of $11 on Thursday, in which the sale of 5.5 million shares raised net proceeds of $52.5 million. Funds from the offering, which had initially been slated to raise as much as $64 million, will be used to advance Reata’s lead antioxidant inflammation modulator (AIM), bardoxolone methyl, through a phase III trial and additional phase II programs. Another AIM, omaveloxolone, will also be moved through phase II.

DUBLIN – Asit Biotech SA put a little color into Europe's anemic IPO market, raising €23.5 million (US$26.5 million) on the Euronext Exchange in Brussels and Paris last week.

DUBLIN – Novimmune SA closed a CHF30 million (US$31 million) funding round, taking the total cash it has raised this year to CHF60 million and its lifetime total to more than CHF300 million.

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