TRACON Pharmaceuticals 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 in China 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.

 “We are excited to expand the development and commercialization opportunities for TRC105 into the Chinese market with a strong partner. The Ambrx management team has a strong track record of drug development in China and are backed by a top-tier syndicate of investors,” said Charles Theuer, M.D., Ph.D., president and chief executive officer of TRACON. 

Ambrx intends to file an initial CTA with the Chinese Food and Drug Administration (CFDA) in 2018.