Reata Bags $350M As It Preps Rare Chronic Kidney Disease Drug For FDA

Reata Pharmaceuticals is readying its lead drug, a potential treatment for a rare, genetic form of chronic kidney disease called Alport syndrome, for an FDA filing this year. New York private equity giant Blackstone Group, via its newly flush life sciences investment arm, is betting $350 million that the treatment will be a big seller for that and related indications.