Report: Tracon Raises $16.5M

Xconomy San Diego — 

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.