/biz/ - Business & Finance

TCON

4.1m os = $14.30m MC with minimum $100m MC on cash deal plus assets.....
PT $20 near term....
*See current license deals thus far.....

TRACON and 3D Medicines and Jiangsu Alphamab entered into a product development collaboration whereby TRACON will be responsible for the clinical development and commercialization of envafolimab in soft tissue sarcoma in North America, with the majority of the development activities expected to occur in the U.S.

Recall that TRACON licensed TRC253 from Janssen. And if they exercise their opt-in right to reacquire the asset upon the Phase II proof-of-concept data, TRACON is entitled to receive a $45 million upfront payment, up to $137.5 million in success-based milestones..

TRACON will lead clinical development and commercialization in the U.S. TRACON and I-Mab will share the costs for more advanced development stages and for U.S. commercialization. And the 2 companies will also equally share in profits from U.S. commercialization.