TRACON Pharma inks deal worth a potential $143.5 million

21 December 2017

The USA’s TRACON Pharmaceuticals (Nasdaq: TCON) saw its shares gain 6.78% to $3.15, in pre-market trading, after it announced a licensing deal that could generate as much as $143.5 million for the company.

TRACON has entered into a licensing agreement with Ambrx for the development and commercialization of TRACON’s proprietary endoglin antibody, TRC105 (carotuximab), in China.

The transaction grants Ambrx the exclusive rights to develop and commercialize TRC105 in all indications (excluding ophthalmology, which are held by Santen Pharmaceutical) in China (including Hong Kong and Macau) and Taiwan.

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