Titan Pharmaceuticals Announces That Novartis Licenses Iloperidone To Vanda Pharmaceuticals
Wednesday June 9, 8:02 am ET
Vanda to Complete Iloperidone Development
SOUTH SAN FRANCISCO, Calif., June 9 /PRNewswire-FirstCall/ -- Titan Pharmaceuticals, Inc. (ASE: TTP) today announced that Vanda Pharmaceuticals, Inc. has acquired the worldwide rights to develop and commercialize iloperidone, Titan's proprietary antipsychotic agent in Phase III clinical development for the treatment of schizophrenia and related disorders, from Novartis Pharma AG. Vanda is a pharmaceutical development company headquartered in Rockville, Maryland, founded by its Chairman, Dr. Argeris N. Karabelas, formerly CEO of Novartis Pharmaceuticals, and its CEO, Dr. Mihael Polymeropoulos, former Vice President of Pharmacogenetics at Novartis Pharmaceuticals. Under the license agreement from Novartis, Vanda will pursue completion of the iloperidone Phase III development program and product registration. All of Titan's rights and economic interests in iloperidone, including royalties on sales of iloperidone, remain unchanged under the license agreement.
"We are very pleased that Vanda will now move forward to continue Phase III clinical testing of iloperidone," stated Dr. Louis R. Bucalo, Chairman, President and CEO of Titan. "We believe Vanda has the expertise to pursue the successful completion of iloperidone development. With the implementation of this agreement," continued Dr. Bucalo, "Titan re-establishes an important Phase III clinical program, and now has six proprietary products in clinical testing."
Approximately 1% of the world's population, 45 million people in total, suffer from schizophrenia. Many patients also suffer from difficult side effects, including significant weight gain, movement disorders and cognitive dysfunction from current therapies.
Some notes about Vanda from their website.
Titan Pharmaceuticals Announces That Novartis Licenses Iloperidone To Vanda Pharmaceuticals
Wednesday June 9, 8:02 am ET
Vanda to Complete Iloperidone Development
SOUTH SAN FRANCISCO, Calif., June 9 /PRNewswire-FirstCall/ -- Titan Pharmaceuticals, Inc. (ASE: TTP) today announced that Vanda Pharmaceuticals, Inc. has acquired the worldwide rights to develop and commercialize iloperidone, Titan's proprietary antipsychotic agent in Phase III clinical development for the treatment of schizophrenia and related disorders, from Novartis Pharma AG. Vanda is a pharmaceutical development company headquartered in Rockville, Maryland, founded by its Chairman, Dr. Argeris N. Karabelas, formerly CEO of Novartis Pharmaceuticals, and its CEO, Dr. Mihael Polymeropoulos, former Vice President of Pharmacogenetics at Novartis Pharmaceuticals. Under the license agreement from Novartis, Vanda will pursue completion of the iloperidone Phase III development program and product registration. All of Titan's rights and economic interests in iloperidone, including royalties on sales of iloperidone, remain unchanged under the license agreement.
"We are very pleased that Vanda will now move forward to continue Phase III clinical testing of iloperidone," stated Dr. Louis R. Bucalo, Chairman, President and CEO of Titan. "We believe Vanda has the expertise to pursue the successful completion of iloperidone development. With the implementation of this agreement," continued Dr. Bucalo, "Titan re-establishes an important Phase III clinical program, and now has six proprietary products in clinical testing."
Approximately 1% of the world's population, 45 million people in total, suffer from schizophrenia. Many patients also suffer from difficult side effects, including significant weight gain, movement disorders and cognitive dysfunction from current therapies.
The Origin of Our Name
The Vanda Miss Joaquim, an orchid variety, is Singapore's national flower, first discovered there in the garden of Miss Agnes Joaquim in 1893.
Vanda Miss Joaquim was chosen as Singapore's national flower because of its hardy and resilient qualities and its ability to bloom throughout the year. These are characteristics which reflect Singapore's quest for progress and excellence in all aspects of life. |
