Strategic Alternatives to be Explored by Titan Pharmaceuticals

Titan Pharmaceuticals Inc., said today that it has begun a process to investigate and evaluate strategic alternatives in order to increase shareholder value. Titan has enlisted the help of Maxim Group LLC as its exclusive financial advisor. Acquisitions, mergers, reverse mergers, other business combinations, asset sales, licencing, and other strategic transactions involving the Company are all possible strategic alternatives that could be examined or considered as part of this process.

There is no guarantee that exploring strategic alternatives will result in any agreements or transactions, or that such agreements or transactions, if finalised, will be successful or on favourable terms. Titan does not intend to make any more announcements about this process until the strategic alternatives evaluation is complete or the board of directors determines that disclosure is appropriate or legally necessary.

Titan Pharmaceuticals Inc., situated in South San Francisco, California, is a development stage firm that uses its ProNeura® long-term, continuous drug delivery technology to produce patented treatments. The ProNeura technology could be utilised to build products for a variety of chronic illnesses where maintaining regular, round-the-clock blood levels of medication could benefit the patient and enhance medical outcomes.

The approval of Probuphine in the United States, the European Union, and Canada is the ultimate validation of the ProNeura® delivery system. TP-2021, a potent peptide kappa opioid agonist for the long-term treatment of severe, chronic pruritis, and nalmefene, a mu opioid receptor blocker designed to reduce relapse and potential death from overdose in detoxed patients with Opiate Use Disorder, are two key ongoing ProNeura implant programmes.