Titan Pharmaceuticals, Inc. is a California biopharmaceutical company developing proprietary therapeutics primarily for the treatment of central nervous system ("CNS") disorders. Its product development programs focus primarily on important pharmaceutical markets with significant unmet medical needs and commercial potential. Titan is directly developing product candidates and also utilize corporate, academic and government partnerships as appropriate. Such collaborations have helped to fund product development and have enabled them to retain significant economic interest in its products. Titan operate in only one business segment, the development of pharmaceutical products.
Titan's principal asset is Probuphine®, the first slow-release implant formulation of buprenorphine hydrochloride (“buprenorphine”), designed to maintain a stable, round-the-clock blood level of the medicine in patients for up to six months following a single treatment. The outpatient treatment of opioid addiction with daily dosed sublingual buprenorphine formulations represented a $1.3 billion market in the U.S. in 2011, and a seven day transdermal patch formulation of buprenorphine for the treatment of chronic pain was launched in the U.S. in 2011. The development of Probuphine for the treatment of opioid addiction is complete. This novel implant formulation is inserted subdermally in a patient’s upper arm providing continuous medication, and has the potential to enhance patient compliance to treatment, and limit diversion for illicit use and accidental exposure to the sublingual formulations. The New Drug Application (NDA) was submitted to the FDA in October 2012 and seeks approval for treatment of opioid dependence. Titan has licensed the commercial rights to Probuphine for the US and Canada to Braeburn Pharmaceuticals Sprl, and retains the rights to Probuphine for the treatment of opioid addiction and/or chronic pain in markets outside of the US and Canada.
Probuphine is the first product to utilize ProNeura™, a novel, proprietary, long-term drug delivery technology. The ProNeura technology has the potential to be used in developing products for the treatment of other chronic conditions, such as Parkinson’s disease, where maintaining stable, round-the-clock blood levels of a drug could potentially benefit the patient and improve medical outcomes.
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