Tracon Pharmaceuticals (NasdaqGM: TCON) is a biopharmaceutical company developing treatments for oncology, ophthalmology, and fibrosis. The Company’s lead candidate, TRC105, is an antibody that targets endoglin, a cell membrane receptor required for angiogenesis. Tracon is currently conducting Phase II trials of TRC105 in patients with soft tissue sarcoma, renal cell carcinoma, glioblastoma, hepatocellular carcinoma, and choriocarcinoma. The Company partnered with Santen Pharmaceutical (TYO: 4536) for the development of TRC105 in wet AMD, and Santen expects to initiate a Phase I trial later this year. Tracon received a $3 million upfront milestone payment following IND filing by Santen for DE-122, the ophthalmic formulation of TRC105, and is eligible for an additional $152 million in remaining milestones, in addition to royalties from the deal.