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Probuphine, Titan’s product in development for opiate addiction, demonstrated in a preclinical study that targeted therapeutic blood levels of buprenorphine were achieved and maintained for eight months, with no adverse effects. Probuphine uses Titan’s ProNeura drug delivery system to provide long-term delivery of buprenorphine, a treatment for opiate addiction. 

Titan’s CCM technology was shown to significantly increase survival in two separate animal models of treatment for glioma. Results showed that attachment to microcarriers enhanced the therapeutic benefit of two different cell types, and increased overall survival in these preclinical studies. Additional preclinical studies also demonstrated the potent anti-tumor effects of RB94 gene therapy in pancreatic cancer, and head and neck cancer. 

In the coming year, we plan to progress our numerous programs with additional clinical studies of Spheramine in Parkinson’s disease, Probuphine in opiate addiction, CeaVac in colorectal cancer, TriAb and TriGem GLYPH<H23008> in small cell lung cancer, Pivanex in non-small cell lung cancer, and gallium maltolate in multiple myeloma and prostate cancer, in addition to other potential studies with iloperidone and other products. The breadth of these development initiatives helps to illustrate Titan’s ability to turn innovative science into practical product development programs, and efficiently target numerous important clinical settings. 

We are confident that our progress this past year has built further support to establish Titan as an important contributor to new, innovative and improved medical therapies. 

We would like to thank you, our shareholders, for your support, and we look forward to further progress. 

Sincerely, 

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