Titan Pharmaceuticals Appoints Two New Board Members

SOUTH SAN FRANCISCO, CA--(Marketwired - Nov 11, 2014) - Titan Pharmaceuticals, Inc. (OTCBB: TTNP) announced today that it has appointed life sciences industry veterans Joseph A. Akers and James McNab Jr. to its board of directors. Mr. Akers, a former Bayer HealthCare executive, and Mr. McNab, chairman and co-founder of Curis, Inc., together bring extensive product development, commercialization, finance and corporate governance experience to Titan.

"We are extremely pleased to welcome Mr. Akers and Mr. McNab to our board of directors," said Titan Executive Chairman Marc Rubin, M.D. "Their expertise and skills will be valuable assets to Titan in assisting us with corporate development as we expand our portfolio of product candidates based on our ProNeura™ long-term drug delivery technology, and as we prepare to resubmit the New Drug Application for Probuphine® for the maintenance treatment of opioid dependence next year."

Mr. Akers brings to Titan extensive executive and financial experience. As president of Bayer's hematology/cardiology business, he oversaw the core of Bayer's specialty pharmaceuticals development, with significant products in hematology and specialty cardiology. Mr. Akers also served as president and CEO of Bayer Business and Corporate Services and held numerous other financial and executive positions during his 37-year career with the company. He has served on the boards of Haemacure Corp., POINT Biomedical Corp. and Schein Pharmaceuticals. As a Titan board member, he will serve on the board's audit committee.

"With the rapid growth in the aging population globally, new treatments that can improve health and quality of life for patients suffering from chronic diseases are increasingly needed," Mr. Akers said. "Having validated the ProNeura platform in Probuphine, Titan is in the position to build additional value for the company based on this innovative technology and I'm eager to contribute."

Mr. McNab, an entrepreneur experienced in building and growing companies, brings to Titan extensive corporate development experience. He is co-founder and chairman of Curis, a publicly traded oncology company that partnered with Roche to develop and commercialize a first-in-class hedgehog inhibitor for the treatment of advanced basal cell carcinoma. Mr. McNab serves as CEO and chairman of Palmetto Pharmaceuticals, executive chairman of FirstString Research Inc., and chairman of JT Pharmaceuticals. Previously Mr. McNab was founder of Vidus Ocular, a glaucoma device company that was sold to OPKO Health, and co-founder of Sontra Medical, which developed a medical low frequency ultrasound device from Massachusetts Institute of Technology that was sold to Echo Therapeutics. Mr. McNab will serve on the board's corporate governance and nominating committee.