SOUTH SAN FRANCISCO, Calif., Nov. 2, 2020 /PRNewswire/ — Titan Prescribed drugs, Inc. (NASDAQ:TTNP) today announced the completion of its arrangement to settle all of its personal debt obligations with Molteni & C. dei F.lli Alitti Società di Esercizio S.p.A (“Molteni”) and Horizon Credit rating LLC II (“Horizon”), as well as its agreement to receive JT Prescribed drugs, Inc.’s (“JT Pharma”) kappa opioid agonist peptide, JT-09, for use in mixture with Titan’s ProNeura® prolonged-time period, continuous drug delivery technology, for the treatment method of chronic pruritus.
The completion of both transactions had been subject to Titan’s closing of its previously introduced underwritten public featuring, which occurred on Oct 30, 2020.
“As a consequence of the financial debt settlement with Molteni and Horizon, there are no liens remaining on any of Titan’s assets, such as all the ProNeura intellectual property,” commented Titan’s Executive Chairman, Dr. Marc Rubin. “With the net proceeds from our latest public giving, a major reduction in operating fees, and full potential to capitalize on our IP, we are well positioned to development preclinical advancement of our ProNeura-primarily based solution prospect pipeline, including developing proof of notion with JT-09 in the initial half of 2021.”
About Titan Prescribed drugs
Titan Prescribed drugs, Inc. (NASDAQ:TTNP), primarily based in South San Francisco, CA, is a enhancement stage corporation producing proprietary therapeutics with its ProNeura® extensive-term, constant drug delivery technological innovation. The ProNeura know-how has the probable to be applied in building products for dealing with a number of long-term situations, in which retaining reliable, all around-the-clock blood degrees of treatment may possibly gain the individual and make improvements to health-related outcomes. For extra details about Titan, be sure to take a look at www.titanpharm.com.
Ahead-On the lookout Statements
This push launch could comprise “ahead-searching statements” inside of the which means of Part 27A of the Securities Act of 1933 and Portion 21E of the Securities Exchange Act of 1934. Such statements include things like, but are not confined to, any statements relating to our merchandise advancement packages and any other statements that are not historical facts. These types of statements contain dangers and uncertainties that could negatively have an affect on our enterprise, functioning success, economical ailment and stock price. Factors that could trigger genuine final results to differ materially from management’s present anticipations include those risks and uncertainties relating to our skill to raise money, the winding down of U.S. business things to do linked to Probuphine, the regulatory acceptance course of action, the enhancement, tests, production and marketing of our drug candidates, patent and mental property matters and strategic agreements and relationships. We expressly disclaim any obligation or enterprise to release publicly any updates or revisions to any ahead-looking statements contained herein to replicate any change in our anticipations or any modifications in situations, situations or situation on which any these kinds of assertion is dependent, other than as necessary by legislation.
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