Full Press Release Details
Titan Pharmaceuticals Announces FDA Clearance
of IND Application for Nalmefene Implant
SOUTH SAN FRANCISCO, Calif., July 5, 2022
/PRNewswire/ -- Titan Pharmaceuticals, Inc. (NASDAQ: TTNP) ("Titan" or the "Company") today announced that
the U.S. Food and Drug Administration ("FDA") has cleared its Investigational New Drug ("IND") application for
a Phase 1 study of its six-month or longer subdermal formulation of nalmefene, an opioid antagonist, intended for the prevention of relapse
following opioid detoxification in adults with Opioid Use Disorder ("OUD").
Kate Beebe DeVarney, Ph.D., President and Chief
Operating Officer of Titan, commented, "FDA clearance of the IND for our ProNeura -based nalmefene implant marks
an important milestone in developing a novel product that may help answer the call for long-term treatment options in addiction medicine.
We are very grateful for the support we received from the National Institute for Drug Addiction, or NIDA, that enabled us to meet this
About Titan Pharmaceuticals
Pharmaceuticals, Inc. (NASDAQ:TTNP), based in South San Francisco, CA, is a development stage company developing proprietary therapeutics
with its ProNeura long-term, continuous drug delivery technology. The ProNeura technology has the potential to
be used in developing products for treating a number of chronic conditions, where maintaining consistent, around-the-clock blood levels
of medication may benefit the patient and improve medical outcomes. In December 2021, Titan commenced a process to explore and evaluate
strategic alternatives to enhance shareholder value.
more information about Titan, please visit www.titanpharm.com.
Forward-Looking Statements
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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 our ability to raise capital, 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
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