TRACON Pharma, Eucure Join Forces To Develop CTLA-4 Antibody For Oncology Indications

TRACON Pharmaceuticals Inc (NASDAQ:TCON) entered into a collaborative partnership agreement with Eucure Biopharma, a subsidiary of Biocytogen Pharmaceuticals (Beijing) Co Ltd, for the R&D of YH001.
Specific deal terms were not disclosed.
YH001 is an IgG1 antibody against CTLA-4 with enhanced antibody-dependent cellular cytotoxicity (ADCC) and complement-dependent cytotoxicity (CDC) effector functions, for development in multiple oncology indications, including soft tissue sarcoma, in North America.
Under the terms of the agreement, TRACON will be responsible for the clinical development and commercialization of YH001 in North America.
The majority of the development activities are expected to occur in the U.S.
TRACON will bear the costs of clinical trials, and Eucure Biopharma will supply YH001.
TRACON will be responsible for commercializing YH001 in multiple oncology indications in North America and will owe Eucure Biopharma escalating double-digit royalties on net sales.
Price Action: TCON shares are up 2.12% at $3.85 during the market session on the last check Monday.