Tracon Pharmaceuticals Closes $27M Series B Funding
Summary
Tracon Pharmaceuticals, a San Diego, CA-based developer of treatments for cancer and age-related macular degeneration, closed a $27m Series B funding.Backers included New Enterprise Associates, BioMed Ventures, JAFCO Co., Nextech Invest, Brookline Investments, Arcus Ventures and BHP.In conjunction with the funding, Paul Walker of NEA joined Tracon’s board of directors while Bruce Steel of BioMed Ventures will become a board observer.Led by President and CEO Charles P. Theuer, M.D., Ph.D., and newly named CFO Patricia Bitar, Tracon develops targeted therapies for cancer and age-related macular degeneration.Its current pipeline includes two clinical stage product candidates: TRC105, an anti-endoglin antibody that is being developed for the treatment of multiple solid tumor types, and TRC102, a small molecule that is being developed for the treatment of lung cancer and glioblastoma.