SOUTH SAN FRANCISCO, Calif.,
May 14, 2018 /PRNewswire/
-- Titan Pharmaceuticals, Inc. (NASDAQ: TTNP), a company
developing proprietary therapeutics for the treatment of select
chronic diseases utilizing its ProNeura™ long-term, continuous drug
delivery technology, today announced the appointment of Federico
Seghi Recli to its Board of Directors.
An executive with over 24 years of leadership experience within
the pharmaceutical industry, Mr. Seghi Recli has served in a number
of executive positions with L. Molteni & C. dei F. lli Alitti
Società di Esercizio S.p.A., which, in March
2018, acquired European Probuphine® intellectual
property from Titan and expects to commercialize the product in
Europe and other select
territories following regulatory approvals. In his most
recent role as Chief Executive Officer, he led Molteni's successful
transformation into a specialty pharmaceutical company focused on
launching and commercializing innovative pharmaceutical products
for the treatment of pain and addiction. Today, Molteni
operates both directly and through its network of specialized
partners in more than 30 countries and is a preferred and qualified
partner of international organizations and non-governmental
organizations such as UNICEF, UNDP and the IDA Foundation and
Global Fund. Mr. Seghi Recli's career experience also
includes senior roles with Merck S.p.A, including President and CEO
from 2002 until 2005.
"We are very pleased to welcome Federico to our Board," said
Titan's Executive Chairman, Dr. Marc
Rubin. "Our many interactions with Federico, both
during and following his tenure as Molteni's CEO, have made clear
the strong commitment that he and Molteni have to Probuphine and
Titan. Titan continues to have discussions with Braeburn to
regain control of the U.S. rights to Probuphine while also making
initial preparations to target select market segments and
potentially participate as a commercial-stage company if we are
successful. We are also working closely with Molteni to
support the commercialization of Probuphine beyond the United States pending European Medicines
Agency approval of our Marketing Authorization Application.
Federico's expertise and many longstanding industry relationships
will be of significant benefit to Titan and its shareholders on
both of these important fronts."
About Titan Pharmaceuticals
Titan Pharmaceuticals, Inc. (NASDAQ:TTNP), based in South San Francisco, CA, is developing
proprietary therapeutics primarily for the treatment of select
chronic diseases. The company's lead product is
Probuphine®, a novel and long-acting formulation of
buprenorphine for the long-term maintenance treatment of opioid
dependence. Probuphine employs Titan's proprietary drug delivery
system ProNeura™, which is capable of delivering
sustained, consistent levels of medication for three months or
longer. 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 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.
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,
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.
CONTACTS:
Sunil Bhonsle,
President & CEO
(650) 244-4990
Stephen Kilmer
Investor Relations
(650) 989-2215
skilmer@titanpharm.com
View original content with
multimedia:http://www.prnewswire.com/news-releases/accomplished-global-pharmaceutical-executive-federico-seghi-recli-appointed-to-titans-board-300647495.html
SOURCE Titan Pharmaceuticals, Inc.