Company News

October 14, 2008

Phase 1 First-in-Human Clinical Trial Results with Tracon Antibodies TRC105 and TRC093 to be Presented at the 2008 AACR-NCI-EORTC Annual Meeting

First-In Class Monoclonal Antibodies, TRC105 and TRC093, Inhibit Angiogenesis

San Diego, CA – October 14, 2008 – Tracon Pharmaceuticals, Inc., a biopharmaceuticals company focused on the development of products for oncology and ophthalmology treatment, including agents that inhibit angiogenesis, announced today that Phase 1 clinical trial results with monoclonal antibodies TRC093 and TRC105 will be presented at the 20th European Organization for Research and Treatment of Cancer (EORTC) -- National Cancer Institute (NCI) -- American Association for Cancer Research (AACR) symposium on 'Molecular Targets and Cancer Therapeutics' in Geneva, Switzerland.

TRC093 is a recombinant humanized IgG1 monoclonal antibody that inhibits angiogenesis, tumor cell growth and metastasis by binding cleaved collagen, which is predominantly produced in the extracellular matrix of tumors. This antibody is expected to address multiple solid tumor types and may also be developed for age-related macular degeneration (“AMD”). Tracon began dosing TRC093 in a Phase 1 trial of cancer patients in July 2007.

TRC105 is a human chimeric monoclonal antibody that binds the essential angiogenesis target CD105 (or endoglin). This antibody is expected to address multiple solid tumor types and may also be developed for age-related macular degeneration (“AMD”). Tracon began dosing TRC105 in a Phase 1 trial of cancer patients in January 2008.

The presentation details are as follows:

TRC093:
Date/Time: Thursday, October 23, 2008 at 12:00 pm to 3:00 pm
Abstract Title: “A phase 1, open-label, dose escalation study of the humanized monoclonal antibody (HuMab), TRC093, an inhibitor of angiogenesis that binds to cleaved collagen, in patients with locally advanced or metastatic solid tumors”
Presenter: Michael S. Gordon, M.D.
Abstract: 414
Session Title: Phase 1
Location: Poster Hall, GenevaPalExpo

TRC105:
Date & Time: Thursday, October 23, 2008 at 12:00 pm to 3:00 pm
Abstract Title: “Early evidence of tolerability and clinical activity from a phase 1 study of TRC105 (anti-CD105 antibody) in patients with advanced refractory cancer”
Presenter: Lee S. Rosen, M.D.
Abstract: 400
Session Title: Phase 1
Location: Poster Hall, GenevaPalExpo

About Tracon Pharmaceuticals, Inc.

Tracon Pharmaceuticals (www.traconpharma.com) is a privately held biopharmaceutical company focused on the development of products for oncology and ophthalmology treatment, including agents that inhibit angiogenesis. Tracon addresses unmet needs in these areas with first-in-class product candidates that will complement existing therapies. TRC093 is a monoclonal antibody that binds to cleaved collagen to inhibit angiogenesis and tumor growth that began dosing in a Phase 1 clinical trial in cancer patients in July, 2007. TRC105 is a monoclonal antibody that binds CD105 (endoglin) to inhibit angiogenesis that began dosing in a Phase 1 clinical trial in cancer patients in January, 2008. TRC102 is a small molecule that reverses resistance to chemotherapeutics that is currently being evaluated in a Phase 1 trial in combination with Temodar® and a Phase 1 trial in combination with Alimta®. TRC101 is a nanoliposome embedded with ceramide used to improve the activity and delivery of chemotherapeutics.

Further information about Tracon Pharmaceuticals can be found at www.traconpharma.com.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are often, but not always, made through the use of words or phrases such as ``anticipates,'' ``expects,'' ``plans,'' ``believes,'' ``intends,'' and similar words or phrases. Such statements involve risks and uncertainties that could cause Tracon’s actual results to differ materially from the anticipated results and expectations expressed in these forward-looking statements. These statements are only predictions based on current information and expectations and involve a number of risks and uncertainties. Actual events or results may differ materially from those projected in any of such statements due to various factors, including the risks and uncertainties inherent in clinical trials, and drug development and commercialization. For a discussion of these and other factors, please refer to Tracon’s annual report on Form 10-KSB for the year ended December 31, 2006 as well as other subsequent filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. This caution is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All forward-looking statements are qualified in their entirety by this cautionary statement and Tracon undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.

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Contact : Tracon Pharmaceuticals, Inc.
Alison Fishman, 858-550-0780
afishman@traconpharma.com