Ambrx gets Chinese rights to Tracon's carotuximab

Cancer company Tracon Pharmaceuticals Inc. (NASDAQ:TCON) granted Ambrx Inc. (La Jolla, Calif.) exclusive rights to develop and commercialize carotuximab (IV TRC105) in China, Hong Kong, Macau and Taiwan for all indications excluding ophthalmology, which are held by Santen Pharmaceutical Co. Ltd. (Tokyo:4536). Tracon receives $3 million up front and is eligible for up to $10.5 million in development and regulatory milestones and up to $130 million in commercial sales milestones, plus tiered royalties ranging from high single-digits to low teens.

Tracon is evaluating carotuximab in the Phase III TAPPAS trial to treat angiosarcoma, for which it has Orphan Drug designation in the U.S. and EU. Phase II trials of the human chimeric mAb against endoglin (CD105; ENG) to treat hepatocellular carcinoma (HCC) and renal cell carcinoma (RCC) are ongoing...