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TRACON gets US$5mln and licensing deal from Janssen

Tuesday, October 4, 2016 7:01
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Tracon Pharmaceuticals Inc (NASDAQ:TCON) has signed rights for two oncology inhibitors being developed by Johnson & Johnson subsidiary Janssen (NYSE:JNJ).

A Phase 1/2 proof-of-concept (POC) clinical trial for one of the molecules, TRC253, in prostate cancer applications is exxpected in the first half of next year.

The other, TRC694 is currently in preclinical development, with an investigational new drug application expected to be filed in 2018.

As part of the deal, Janssen will invest US$5mlnin in Tracon, money that provide development funding for its current lead product carotuximab.

It has orphan drug status for soft tissue sarcoma and fast track status for kidney cancer. 

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