Phase III Program Starts for Novel Antipsychotic Agent Iloperidone.SOUTH SAN FRANCISCO South San Francisco, city (1990 pop. 54,312), San Mateo co., W Calif.; inc. 1908. South San Francisco has several industrial parks; its manufactures include medical supplies and equipment, foods, paint, paper products, consumer goods, and clothing. , Calif.--(BW HealthWire)--Aug. 18, 1998-- TITAN PHARMACEUTICALS, INC. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : TTNP, TTNPU and TTNPW) announced today the start of Novartis' clinical program for Iloperidone, a novel antipsychotic agent. Titan has issued an exclusive license for Iloperidone to Novartis. The program is aimed at obtaining worldwide approval for Iloperidone for the treatment of schizophrenia The concept of a cure as such in the treatment of schizophrenia remains controversial, as there is no consensus on the definition of "treatment" in the case of schizophrenia, although some criteria for the remission of symptoms have recently been suggested. , except for Japan where Titan retains rights. Novartis' program encompasses a comprehensive worldwide Phase III multicenter clinical development plan. In earlier Phase II testing, Iloperidone appeared potentially efficacious and well tolerated, and showed promise for treatment of this debilitating de·bil·i·tat·ing adj. Causing a loss of strength or energy. Debilitating Weakening, or reducing the strength of. Mentioned in: Stress Reduction disease. "We believe Iloperidone is one of the more promising products either currently available or in late-stage human testing for schizophrenia," stated Dr. Louis Bucalo, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Titan Pharmaceuticals, "and we are very pleased at the start of these studies by Novartis." "Iloperidone is viewed as the leading late-stage project in our program for schizophrenia and has the potential to be first-line therapy," stated Dr. Lynn Kramer, Head of the Nervous System Therapeutic Area in Clinical Development for Novartis. Titan Pharmaceuticals, Inc. is a biopharmaceutical company developing proprietary therapeutics for the treatment of cancer, central nervous system disorders Nervous system disorders A satisfactory classification of diseases of the nervous system should include not only the type of reaction (congenital malformation, infection, trauma, neoplasm, vascular diseases, and degenerative, metabolic, toxic, or deficiency , and other serious and life-threatening diseases. In addition to Iloperidone, Titan is developing several novel therapeutic products for the treatment of Parkinson's disease, colorectal cancer, breast cancer, lung cancer and other diseases. "Safe Harbor" Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: The statements that are not historical facts contained in this release are forward-looking statement that involve risks and uncertainties, including, but not limited to, the results of research and development efforts, the results of pre-clinical and clinical testing, the effect of regulation by the United States Food and Drug Administration United States Food and Drug Administration (FDA), n.pr a unit of the Public Health Service created to protect the health of the nation against impure and unsafe foods, drugs, and cosmetics. (FDA) and other agencies, the impact of competitive products, product development, commercialization and technological difficulties, the results of financing efforts, the effect of the Company's accounting policies, and other risks detailed in the Company's Securities and Exchange Commission filings. CONTACT: Company Contact: Titan Pharmaceuticals, Inc., South San Francisco Louis R. Bucalo, M.D., CEO & President, 650/244-4990 or Investor Contact: Lippert/Heilshorn & Associates, Inc., New York Keith Lippert (keith@lhai.com), 212/838-3777 or Lippert/Heilshorn & Associates, Inc., Los Angeles Bruce Voss (bruce@lhai.com), 310/575-4848 |
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