Exhibit 20.1
Company: Investors: Media:
-------- ---------- ------
Louis R. Bucalo, M.D. Wendi B. Green Sarah O'Connell
Chairman, CEO & President Account Executive Account Executive
Titan Pharmaceuticals, Inc. Ruder Finn, Inc. Ruder Finn, Inc.
Tel: 650-244-4990 Tel: 212-593-6374 Tel: 212-583-2724
FOR IMMEDIATE RELEASE
TITAN PHARMACEUTICALS ACQUIRES NOVEL AGENT
FOR THE TREATMENT OF CANCER AND VIRAL DISEASE
South San Francisco, CA- July 20, 2000- Titan Pharmaceuticals Inc. (AMEX: TTP)
announced today that it has acquired worldwide rights to a novel, proprietary,
experimental agent for the potential treatment of cancer and other conditions,
including HIV infection. The product is an orally active agent that has
completed initial Phase I clinical testing. Titan plans to begin Phase II
clinical development in the treatment of certain cancers, and also evaluate its
potential utility in other indications, including HIV infection.
The agent, gallium maltolate, contains an oral form of gallium, a semi-metallic
element that is known to concentrate in malignant tumors and sites of infection.
In previous pilot clinical studies, intravenously administered gallium has
demonstrated preliminary evidence of anti-tumor activity in several cancer
indications, including multiple myeloma, lymphoma and bladder cancer. Recent in
vitro data indicate that gallium may also have potential for the treatment of
HIV infection.
Titan believes gallium maltolate may unlock the therapeutic potential of
gallium, by providing a unique orally active formulation for treatment of cancer
and other diseases. Recent Phase I studies of gallium maltolate have
demonstrated a good safety profile, with attainment of potentially therapeutic
serum drug levels, and pharmacokinetics that support twice a day or once a day
dosing.
Dr. Christopher Chitambar, Professor of Medicine at the Medical College of
Wisconsin stated, "Previous clinical studies of intravenous gallium have shown
promise in the treatment of a number of cancers and cancer-related conditions.
An orally bioavailable agent such as gallium maltolate offers numerous potential
advantages, and could provide an important new component to the therapy of
several types of cancer."
Dr. Chitambar has extensive research and clinical experience with the
therapeutic applications of novel compounds in the treatment of cancer.
"We are very pleased to acquire rights to this unique proprietary therapeutic
agent," commented Dr. Louis R. Bucalo, Chairman, CEO and President of Titan.
"Gallium maltolate may provide the best practical means for utilizing the novel
anti-cancer activity of gallium, and we look forward to initiating further
clinical testing."
4
<PAGE>
With the addition of this new agent, Titan now has nine products in development,
with seven in clinical testing. Titan is acquiring the product through the
acquisition of GeoMed, Inc. a privately held California company founded for
development of the agent. The completion of the acquisition is subject to
customary closing conditions.
Titan Pharmaceuticals, Inc. is a biopharmaceutical company developing
proprietary therapeutics for the treatment of central nervous system disorders,
cancer and other serious and life-threatening diseases.
The 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 the Company's development program and any other
statements that are not historical facts. Such statements involve risks and
uncertainties, including, but not limited to, those risks and uncertainties
relating to difficulties or delays in development, testing, regulatory approval,
production and marketing of the Company's drug candidates, unexpected adverse
side effects or inadequate therapeutic efficacy of the Company's drug candidates
that could slow or prevent product markets, the uncertainty of patent protection
for the Company's intellectual property or trade secrets and the Company's
ability to obtain additional financing if necessary. Such statements are based
on management's current expectations, but actual results may differ materially
due to various factors, including those risks and uncertainties mentioned or
referred to in this press release.
5
