Report: Tracon Raises $16.5M

4/6/11

San Diego-based Tracon Pharmaceuticals has raised $16.5 million of a targeted $24.5 million round from investors, according to a recent report in VentureWire. Tracon CEO Charles Theuer declined to comment today, saying through a spokeswoman that the company has issued “no official press release.” VentureWire did not identify the investors, but noted that Paramount BioSciences was a previous investor in the company. According to its website, Tracon licenses, develops, and commercializes targeted therapies for cancer and age-related macular degeneration. Its current pipeline uses “established platform technologies” to block novel pathways implicated in cancer growth and angiogenesis.

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call (619) 669-8788 Follow @

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