Titan Pharmaceuticals Receives Notice of Allowance for Patent of Implantable Polymeric Device for Sustained Release of Dopami...
June 09 2014 - 7:00AM
Marketwired
Titan Pharmaceuticals Receives Notice of Allowance for Patent of
Implantable Polymeric Device for Sustained Release of Dopamine
Agonists
New Patent to Provide Intellectual Property Protection for
ProNeura for Parkinson's Disease
SOUTH SAN FRANCISCO, CA--(Marketwired - Jun 9, 2014) - Titan
Pharmaceuticals, Inc. (OTCBB: TTNP), a specialty pharmaceutical
company developing proprietary therapeutics for the treatment of
opioid dependence and other serious medical disorders, announced
today that it has received a Notice of Allowance from the U.S.
Patent and Trademark Office for a patent application covering the
sustained release of dopamine agonists utilizing ProNeura™, Titan's
proprietary long-term drug delivery technology. The patent, titled
"Implantable Polymeric Device for Sustained Release of a Dopamine
Agonist," provides intellectual property protection for the
company's development program of ProNeura for Parkinson's disease
and carries a patent term to at least 2024. Similar patents have
been issued in Europe, Australia, Canada, Japan, Korea, Mexico, New
Zealand, South Africa and Hong Kong, and patent applications are
pending in Israel, India and China.
"This patent allowance is a significant milestone for Titan, as we
advance our ProNeura for Parkinson's development program," said
Titan President Sunil Bhonsle. "The ability to maintain stable,
non-fluctuating, around-the-clock blood levels of dopamine agonists
has the potential to improve the health of the estimated seven to
10 million people who are suffering from Parkinson's disease
worldwide today, and we are pleased to receive this IP
protection."
Titan is actively engaged in the early stages of product
development, while simultaneously consulting with scientific
advisors and key opinion leaders on the ProNeura for Parkinson's
disease program. The company anticipates filing an investigational
new drug application for ProNeura for Parkinson's disease in 2015.
In 2012, Titan successfully completed a preclinical investigation
into the feasibility of utilizing the ProNeura platform for the
continuous delivery of ropinirole in a nonhuman primate model
commonly used to study medications for Parkinson's disease.
About the ProNeura Technology Platform
The ProNeura technology platform is Titan's proprietary,
long-term drug delivery technology utilized in the development of
products for the treatment of chronic conditions that may benefit
from the continuous delivery of certain medications over an
extended period of time. The ProNeura drug delivery system consists
of a small, solid rod made from a mixture of ethylene-vinyl acetate
("EVA") and a drug substance. The resulting product is a solid
matrix that is placed subdermally, normally in the inner part of
the upper arm, during a simple office procedure, and is removed in
a similar manner at the end of treatment. The drug substance is
released continuously through the process of dissolution, resulting
in a stable, non-fluctuating blood level similar to that seen with
intravenous administration. These long-term, linear-release
characteristics are medically desirable to avoid the peak and
trough swings from oral dosing that pose problems in the current
treatments for many diseases, especially diseases of the central
nervous system. Titan has issued patents as well as patent
applications covering the use of the ProNeura platform technology
for the formulation of specific products for the treatment of
certain chronic diseases, such as opioid dependence, Parkinson's
disease, and others.
Probuphine®, an investigational subdermal implant designed to
deliver around-the-clock blood levels of buprenorphine for the
long-term maintenance treatment of opioid dependence, is Titan's
first product in development employing the ProNeura technology
platform.
About Titan Pharmaceuticals
Titan Pharmaceuticals Inc. (OTCBB: TTNP), based in South San
Francisco, CA, is a specialty pharmaceutical company developing
proprietary therapeutics primarily for the treatment of serious
medical disorders. The company's lead product candidate is
Probuphine®, a novel and long-acting formulation of buprenorphine
for the long-term maintenance treatment of opioid dependence.
Probuphine employs Titan's proprietary drug delivery system
ProNeura™, which is capable of delivering sustained, consistent
levels of medication for six months or longer. Titan has granted
North American commercial rights for Probuphine to Braeburn
Pharmaceuticals. If approved, Probuphine would be the first and
only commercialized treatment of opioid dependence to provide
continuous, round-the-clock blood levels of buprenorphine for six
months following a single procedure. The ProNeura technology has
the potential to be used in developing products for treating other
chronic conditions, such as Parkinson's disease, where maintaining
consistent blood levels of a dopamine agonist may benefit the
patient and improve medical outcomes. For more information about
Titan, please visit www.titanpharm.com.
This press release may contain "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Such statements
include, but are not limited to, any statements relating to our
product development programs and any other statements that are not
historical facts. Such statements involve risks and uncertainties
that could negatively affect our business, operating results,
financial condition and stock price. Factors that could cause
actual results to differ materially from management's current
expectations include those risks and uncertainties relating to the
regulatory approval process, the development, testing, production
and marketing of our drug candidates, patent and intellectual
property matters and strategic agreements and relationships. We
expressly disclaim any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statements
contained herein to reflect any change in our expectations or any
changes in events, conditions or circumstances on which any such
statement is based, except as required by law.
CONTACT: Titan Pharmaceuticals, Inc. Sunil Bhonsle 650-244-4990
President Media Susan Thomas 619-540-9195
stcommunications@aol.com
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