Shares of Titan Pharmaceuticals (NASDAQ: TTNP) are 5% higher after the company this morning said its Investigational New Drug (IND) application for its ropinirole implant has been cleared by the U.S. Food and Drug Administration (FDA). The company is now permitted to move forward with the phase 1/2 clinical study in patients. Developed utilizing Titan’s ProNeura™ technology, the ropinirole implant is intended for the long-term, continuous delivery of ropinirole HCL for the treatment of signs and symptoms of Parkinson’s disease. “Our ropinirole implant is designed to provide continuous, non-fluctuating therapeutic levels of medication for up to three months, potentially offering patients and clinicians a more effective treatment option. We thank the FDA for their timely review and comments on the IND and clinical protocol,” Titan executive vice president and Chief Development Officer Kate Beebe, PhD, stated in the news release.
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About Titan Pharmaceuticals
Titan Pharmaceuticals Inc. (NASDAQ: TTNP), based in South San Francisco, CA, is developing proprietary therapeutics primarily for the treatment of serious medical disorders. The company’s lead product is Probuphine®, a novel and long-acting formulation of buprenorphine and the first and only commercialized treatment of opioid dependence approved by the U.S. Food and Drug Administration to provide continuous, around-the-clock blood levels of buprenorphine for six months following a single procedure. Probuphine employs Titan’s proprietary drug delivery system ProNeura™, which is capable of delivering sustained, consistent levels of medication for three months or longer. Titan has granted commercial rights in the U.S. and Canada for Probuphine to Braeburn Pharmaceuticals. The ProNeura technology 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. For more information about Titan, please visit www.titanpharm.com
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