SOUTH SAN FRANCISCO - Titan Pharmaceuticals, Inc. (NASDAQ: TTNP) today announced that it has signed an agreement for Probuphine (buprenorphine) implant to be included on the Federal Supply Schedule ('FSS'), providing U.S. veterans and other federal government agencies with access to Titan's novel 6-month maintenance treatment for Opioid Use Disorder ('OUD') in eligible patients.

The final FSS contract is effective January 15, 2020 and has a five-year term. The FSS contract will extend access to Probuphine to over nine million VA beneficiaries and others within the federal system.

'This agreement further extends the commercial reach of Probuphine to eligible patients suffering from OUD,' said Dane Hallberg, Titan's Executive Vice President and Chief Commercial Officer. 'Titan is committed to helping those who serve and have served our country, and it is our hope that, through this agreement, we can make a positive impact on the lives of veterans affected by this epidemic.'

About Probuphine

Probuphine is the only subdermal implant designed to deliver buprenorphine continuously for six months following insertion.

Probuphine was developed using ProNeura, the continuous drug delivery system developed by Titan that consists of a small, solid implant made from a mixture of ethylene-vinyl acetate and a drug substance. The resulting construct is a solid matrix that is placed subdermally, normally in the upper inner arm in an outpatient office procedure and removed in a similar manner at the end of the treatment period. The U.S. Food and Drug Administration ('FDA') approved Probuphine in May 2016, and it is the first and only buprenorphine implant available for the maintenance treatment of opioid addiction in eligible patients.

About Titan Pharmaceuticals

Titan Pharmaceuticals, Inc. (NASDAQ:TTNP), based in South San Francisco, CA, is a commercial stage company developing proprietary therapeutics with its ProNeura long-term, continuous drug delivery technology. The company's lead product is Probuphine (buprenorphine) implant, a novel and long-acting formulation of buprenorphine for the long-term maintenance treatment of opioid dependence. Approved by the U.S. Food and Drug Administration in May 2016, Probuphine is the first and only commercialized treatment of opioid dependence to provide continuous, around-the-clock blood levels of buprenorphine for six months following a single procedure. The ProNeura technology also has the potential to be used in developing products for treating other chronic conditions such as Parkinson's disease and hypothyroidism, where maintaining consistent, around-the-clock blood levels of medication may benefit the patient and improve medical outcomes.

Forward-Looking Statements

This 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 the commercialization of Probuphine; the regulatory approval process; Titan's ability to access capital; 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.

Contact:

Sunil Bhonsle

Tel: (650) 244-4990

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