Titan Pharmaceuticals Announces That Vanda Pharmaceuticals, Inc. Initiates Phase III Clinical Trial Of Iloperidone

SOUTH SAN FRANCISCO, Calif., Dec. 12 /PRNewswire-FirstCall/ -- Titan Pharmaceuticals, Inc. today announced that Vanda Pharmaceuticals Inc. has initiated a Phase III clinical study of iloperidone, Titan's proprietary antipsychotic agent licensed to Vanda and in development for the treatment of schizophrenia and related disorders. The study is designed as a randomized, double blind, controlled, three arm study. Patients in this multi-center study will receive iloperidone, placebo, or an active control. The study is designed to assess the efficacy, safety and tolerability of iloperidone in schizophrenic patients in acute exacerbation. The primary endpoint of the study is the reduction in the symptoms of schizophrenia as assessed by the Positive and Negative Symptom Scale (PANSS). Iloperidone is a novel 5HT2/D2 antagonist, antipsychotic agent in development for schizophrenia and other disorders.

About Titan Pharmaceuticals

Titan Pharmaceuticals, Inc. is a biopharmaceutical company focused on the development and commercialization of novel treatments for central nervous system disorders, cardiovascular disease, bone disease and other disorders. Titan's products in development utilize novel technologies that have the potential to significantly improve the treatment of these diseases. Titan also establishes partnerships with government institutions and other leading pharmaceutical development companies. For more information, please visit the Company's website at http://www.titanpharm.com

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 development or commercialization, 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.

CONTACT: Company: Robert Farrell, Executive Vice President & CFO of TitanPharmaceuticals, Inc., +1-650-244-4990; or Media/Investors: JonathanFassberg of The Trout Group, +1-212-477-9007

Web site: http://www.titanpharm.com/