Tracon Pharmaceuticals, a US-based developer of cancer therapeutics renamed in 2005 from Lexington Pharmaceuticals, has raised $22m, to be drawn down in two tranches.
Tokyo-listed venture capital (VC) investors Jafco and Nextech Invest co-led the round, joined by VC peers Arcus Ventures and BHP and merchant bank Brookline Investments.
The first tranche is $14m to fund the development of the antibody TRC105 through its phase two trials.