Benzinga | Oct 25, 2021 07:18AM EDT

Titan Pharmaceuticals Receives Funding to Develop Combination HIV Therapeutic and Contraceptive Implant for Women in Developing Countries

Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) ("Titan" or the "Company") today announced that it has received funding from the Bill & Melinda Gates Foundation to support the demonstration of its ability to deliver a human immunodeficiency virus ("HIV") preventative therapeutic and a contraceptive from a single implant using its proprietary ProNeura(r) technology, and ensure this technology is accessible to women and adolescent girls in low- and middle-income countries.

Titan Pharmaceuticals, Inc. (PRNewsfoto/Titan Pharmaceuticals, Inc.)

"Reducing the burden of HIV, while simultaneously increasing access to contraceptive options, could have a major impact on the health of women and adolescent girls in low- and middle-income countries," said Marc Rubin, M.D., Executive Chairman of Titan. "We believe that our ProNeura platform is uniquely suited to this program, as we have demonstrated the feasibility of long-term delivery of two pharmaceutically active ingredients from a single implant in an earlier development program. The continuous long-term delivery of a contraceptive/antiviral combination has the potential to have a greater public health impact in developing nations, compared with daily dosing of multiple compounds."