Biotech Values

[WorstLuck]

TTNP previously tried to reverse-merge with an aerospace company (#msg-170700914), but that deal fell through.

Another curiosity, immediately prior to that OCUL licensed (cheaply) IP for ophthalmic use. At the time I viewed it as primarily a defensive maneuver.


https://ir.titanpharm.com/all-sec-filings/content/0001829126-22-020168/0001829126-22-020168.pdf

Item 1.01. Entry into a Material Definitive Agreement.
On December 6, 2022, Titan Pharmaceuticals, Inc. (the “Company”) entered into a license agreement (the “License Agreement”) with Ocular Therapeutix, Inc. (the
“Licensee”) to license the exclusive rights to certain patent applications for ophthalmic uses in both humans and nonhuman animals in the United States (the “Licensed
Patents”).
The grant of the license by the Company to the Licensee is for an exclusive (even as to the Company), perpetual, fully paid-up license to use the Licensed Patents. The
license comes with the right to sublicense. The Licensee will pay the Company a one-time fee of $50,000 within ten days of the effective date of the License Agreement and will
reimburse the Company for attorneys’ fees incurred by it in connection with the preparation and negotiation of the License Agreement. The Licensee shall make additional
payments to the Company upon the achievement of certain milestone events as set forth in the License Agreement.
The foregoing description of the License Agreement does not purport to be complete and is qualified in its entirety by the terms and conditions of the License
Agreement, a copy of which is filed as Exhibit 10.1 hereto.
Item 8.01. Other Events.
On December 12, 2022, the Company issued a press release announcing the Company’s entry into the License Agreement. A copy of the press release is attached
hereto as Exhibit 99.1 and incorporated herein by reference.