Titan Pharmaceuticals Licenses Iloperidone From Hoechst Marion Roussel.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.--(BUSINESS WIRE)--Jan. 9, 1997-- 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 NM: TTNP TTNP Tactical Telephone Numbering Plan , TTNPU AND TTNPW), today announced that it has signed an agreement with Hoechst Marion Roussel, Inc. for an exclusive worldwide license to the antipsychotic agent, Iloperidone. Iloperidone, which is expected to enter Phase III clinical trials during the first half of 1997, is an antipsychotic agent in development 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. and related disorders. Iloperidone's overall safety and efficacy profile at its current stage of development compares favorably to currently available therapeutics as well as other products under development. According to the World Health Organization, approximately 45 million people worldwide suffer from some form of schizophrenia, one of the most chronic and 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 of all mental illnesses. The worldwide market for antipsychotic agents, according to published reports, is predicted to be in excess of $4 billion by the year 2000. Iloperidone was initially developed by Hoechst Marion Roussel, Inc. and is protected by U.S. patents and foreign patent applications. Dr. Louis Bucalo, President and Chief Executive Officer of Titan Pharmaceuticals, Inc., commented, "We are extremely excited to obtain this product opportunity and execute this agreement with Hoechst Marion Roussel. Titan's product portfolio currently includes five products in clinical testing. This sixth product, Iloperidone, further strengthens our product pipeline with an additional later stage product that may be very competitive in a multi-billion dollar market." Titan Pharmaceuticals, Inc. is a biopharmaceutical company that develops proprietary therapeutics for the treatment of cancer, 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. The company's operations are currently conducted through five operating companies: Ansan (Nasdaq: ANSN ANSN Asian Nuclear Safety Network , ANSNU), Ingenex, ProNeura, Theracell and Trilex. "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 which are not historical facts contained in this release are forward looking statements that involve risks and uncertainties, including, but not limited to, product demand and market acceptance risks, the effect of economic conditions, the impact of competitive products and pricing, product development, commercialization and technological difficulties, capacity and supply constraints or difficulties, the results of financing efforts, actual purchases under agreements, the effect of the Company's accounting policies, and other risks detailed in the Company's Securities and Exchange Commission filings. CONTACT: Titan Pharmaceuticals, Inc. Louis R. Bucalo, M.D., 415/244-4990 or Lippert/Heilshorn Keith Lippert/Evan Smith, 212/838-3777 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion