not holding my breath, but.... interesting, if nothing else, interesting........
Thursday October 7, 9:42 am Eastern Time
Company Press Release
Titan's Parkinson's Disease Therapy Receives NIH
Grant
Accelerated Phase I/II Fast Track Grant Targeted To Support
Preclinical and Clinical Development
SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--October 7, 1999--Titan Pharmaceuticals, Inc. (AMEX: TTP -
news) today announced that the National Institute of Neurological Disorders and Stroke of the NIH has awarded to Titan
Phase I of a combined Phase I/ Phase II Fast Track SBIR Grant, to support development of Titan's Spheramine(TM) therapy
for Parkinson's disease. A Phase I/ Phase II Fast Track Grant is designed to accelerate access to a Phase II Grant, based upon
achievement of Phase I objectives.
''We appreciate this support from NIH and NINDS for our Parkinson's disease therapeutic program,'' stated Dr. Louis R.
Bucalo, President and CEO of Titan. ''In aggregate, this Phase I/ Phase II grant would fund the majority of direct costs of our
initial clinical study of Spheramine.''
''We are moving very rapidly toward completion of the Phase I objectives, and the potential opportunity of Phase II of this
grant,'' continued Dr. Bucalo. ''In addition, we look forward to the opportunity of initiating clinical testing of Spheramine in the
near future.''
The Phase I grant in the amount of $120,000 is targeted toward completion of primate studies and preparation of an IND for
clinical testing. The Phase II grant would be directed at support of initial Phase I/II clinical testing.
Spheramine is a cell therapy intended to help replace the function of dopamine producing cells which are lost in
Parkinson's'disease through neuronal degeneration. Spheramine utilizes retinal pigmented epithelial cells, which produce
dopamine, and can be obtained in large numbers through cell culture producing methods, offering the potential for a
standardized, readily available restorative cell therapy.
Titan Pharmaceuticals, Inc. is a biopharmaceutical company developing proprietary therapeutics for the treatment of nervous
system disorders, cancer, and other serious and life threatening diseases.
''Safe Harbor'' Statement under the Private Securities Litigation Reform Act of 1995. The statements which are not historical
fact in this release are forward-looking statements that involve risks and uncertainties including, but not limited to, the results of
research and developmental efforts, the results of pre-clinical and clinical testing, the effect of regulation by the FDA and other
agencies, the impact of competitive products, product development, commercialization and technological difficulties, and other
risks detailed in the Company's Securities and Exchange Commission filings.
Contact:
Company:
Louis R. Bucalo, M.D.
President & CEO
Titan Pharmaceuticals, Inc
Tel: 650-244-4990
or
Investors:
Sandra O'Keefe
Senior Account Executive
Ruder Finn, Inc.
Tel: 212-593-6420
or
Media:
Ken Garcia
Account Executive
Ruder Finn, Inc.
Tel: 212-583-2722 |
