Titan Pharmaceuticals (NASDAQ:TTNP) was awarded a two-year grant of about $6.7-million from the NIH’s National Institute on Drug Abuse (NIDA) for the development of a ProNeura-based six-month implantable formulation of nalmefene, an opioid antagonist, intended for the prevention of relapse to opioid addiction, following opioid detoxification.
The grant provides approximately $2.7-million for the project from now through Aug. 31, 2019, with the balance to be funded over the subsequent year, subject to satisfactory project progress, fund availability and certain other conditions.
“NIDA previously provided funds for an important Phase 3 trial of our approved product, Probuphine, and we are grateful for this additional vote of confidence in our ProNeura technology, as well as our ability to execute on another program for the treatment of opioid addiction,” Titan CSO and principal investigator of the project, Dr. Kate DeVarney, said in a statement.
The grant provides about half of the expenses associated with the completion of non-clinical studies, which, if successful, are expected to support the company’s submission of an IND to the FDA for a nalmefene six-month implant. Titan retains full commercial rights to the nalmefene implant product.
Titan president and CEO, Sunil Bhonsle, said the NIDA grant serves as further validation of the importance of long-term treatment options in addiction medicine.
“As we continue to make progress in transitioning to a commercial company marketing Probuphine, we believe that our nalmefene implant has the potential to become an important addition to our product portfolio for addressing opioid addiction, a global health emergency,” he added.
