Titan Pharmaceuticals Inc (TTNP)

[Doctor Detroit]

Legal Plumbing

Just in case you’re interested in the Braeburn-Titan relationship….

Section 2.5(a) of the TTNP-Braeburn License agreements says “Titan will not Promote, or permit its Affiliates to Promote, market or sell any product that entails the continuous delivery of a therapeutic agent for the treatment of the Initial Indication in the Territory, or acquire, or permit its Affiliates to acquire, directly or indirectly any rights or interest in or to any such product that is being Promoted, marketed or sold in the Territory.”

So how do you explain the Titan/Opiant collobaration for a vivitrol like implant? Isn’t that a violation of the License Agreement?

First, “Initial Indication” is a defined term. It means: “the use of a Product for the treatment of opioid addiction.” Doesn’t sound too promising for Titan. But what is a Product?

Well, “Product” is defined as “a subdermal implant consisting of Compound and EVA which is expected to be marketed under Titan’s trademark Probuphine® or such other Product Trademarks as may be reflected in a Product NDA, for use in the treatment of the Initial Indication and/or Subsequent Indications in the Territory.”

OK, so the Product has to contain “Compound” to be subject to the noncompete. And “Compound” is defined as “the chemical compound known as buprenorphine.”

So…the prohibition is against selling subdermal implants with buprenorphine. No prohibition on selling implants with opioid antagonists.

Score one for Titan's lawyers. My guess is Braeburn’s management weren’t aware of the fine print.