Biotech Values

[DewDiligence]

TCON licenses TRC105 in China:

https://finance.yahoo.com/news/tracon-pharmaceuticals-ambrx-announce-development-115500636.html

TRACON Pharmaceuticals…and Ambrx, Inc. today announced that they have entered into a licensing agreement 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 Co., Ltd.) in China (including Hong Kong and Macau) and Taiwan. TRACON will receive an upfront payment of $3 million, and is eligible to receive development and regulatory milestones of up to $10.5 million, and commercial sales milestones of up to $130 million. TRACON is also eligible to receive tiered royalties from the high single digits to low teens on net sales of TRC105 in the Ambrx territories.