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
http://biz.yahoo.com/bw/991007/ca_titan_p_2.html
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.
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
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