Full Press Release Details
Pharmaceuticals Announces Licensing
Agreement with Ocular Therapeutix
Francisco, Calif., December 12, 2022
-- Titan Pharmaceuticals, Inc. (NASDAQ: TTNP) ("Titan" or the
"Company") today announced that it has granted an exclusive license to Ocular Therapeutix (NASDAQ: OCUL)
("Ocular") pertaining to certain patent applications for ophthalmic uses in both humans and nonhuman animals in
the territory of the United States. Under the terms of the agreement, Ocular will pay Titan an upfront licensing fee with the
potential for additional payments upon reaching certain milestones.
Beebe DeVarney, Ph.D., President and Chief Operating Officer of Titan Pharmaceuticals, commented "We are pleased to
enter into this licensing agreement with Ocular. Our team has been working hard to monetize our significant scientific assets.
We believe our drug delivery technology can provide significant benefit to companies across multiple therapeutic areas."
information regarding the agreement can be found in an 8k that was filed with the SEC: https://ir.titanpharm.com/all-sec-filings.
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.
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 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 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. A complete discussion of the risks and uncertainties that may affect Schmitt's business,
including the business of its subsidiary, is included in "Risk Factors" in the Company's most recent Annual
Report on Form 10-K as filed by the Company with the Securities and Exchange Commission.
& Investor Contacts:
Kate Beebe DeVarney, Ph.D.
President and Chief Operating Officer