Navigation Links
Titan Pharmaceuticals to Receive $3 Million Loan
Date:12/21/2009

SOUTH SAN FRANCISCO, Calif., Dec. 21 /PRNewswire-FirstCall/ -- Titan Pharmaceuticals, Inc. (Pink Sheets: TTNP) today announced that it has entered into a Loan and Security Agreement with Oxford Finance Corporation ("Oxford") for a $3 million term loan. The loan will bear interest at an approximate rate of 13% per annum and be payable over three years. Under the terms of the agreement, Titan will pay Oxford an initial facility fee of $60,000 and a final payment fee of $180,000. The loan will be secured by Titan's assets and has a provision for pre-payment. Oxford will also receive five-year warrants to purchase approximately 43,000 shares at an exercise price equal to the lesser of the 10-day trailing average market price or the market price at closing.

In addition, Titan has recently received approximately $500,000 from the sale of 300,000 shares of common stock at $1.70 per share in a private placement to a single investor who participated in the company's December 2007 financing. These shares are currently restricted from trading and Titan has agreed to register the shares for resale under the Securities Act of 1933 ("Securities Act") once it has re-registered its shares under the Securities Exchange Act of 1934. The company has undertaken to file a Form 10 with the Securities and Exchange Commission ("SEC") on or prior to January 18, 2010 and to use its commercially reasonable efforts to effect such registration by April 15, 2010.

"The Board of Directors is very pleased with the progress made by the company," said Marc Rubin, MD, Executive Chairman of Titan. "Our Board members have also expressed their strong support by providing more than $500,000 in operating funds during this past few months through the exercise of options to purchase restricted shares," he added.

"This financing provides Titan with the immediate resources necessary to complete the process of becoming a reporting company again, and to
'/>"/>

SOURCE Titan Pharmaceuticals, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Page: 1 2 3

Related biology technology :

1. Particle Sciences sells T-COTE(R) Line of Microfine Titanium Dioxides to Sensient
2. Titan Spine Teams Up With Syndicom, Inc. to Utilize Internationally Recognized SpineConnect Collaboration Platform
3. Not all titanium dioxide is equal when it comes to splitting water with visible light
4. Vion Pharmaceuticals Pays Interest on 7.75% Convertible Senior Notes
5. China Biopharmaceuticals Holdings Announces Second Quarter 2007 Financial Results
6. Vion Pharmaceuticals Completes Accrual of 85 Patients to its Pivotal Phase II Trial of Cloretazine(R) (VNP40101M) in Elderly AML
7. XTL Biopharmaceuticals Announces Financial Results for the Six Months Ended June 30, 2007
8. Cadence Pharmaceuticals Reports Second Quarter 2007 Financial Results
9. Nabi Biopharmaceuticals to Present at Upcoming Industry Conferences
10. Anadys Pharmaceuticals Appoints Steve Worland, Ph.D. as President and Chief Executive Officer
11. Poniard Pharmaceuticals Announces Participation in Upcoming Conferences
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/2/2014)... September 02, 2014 The inventors of ... for chronic tinnitus are seeking support for development costs ... Indiegogo platform ( http://igg.me/at/tinaway ), was launched on September ... therapeutic ‘mHealth’ app and is based on ten years ... team of biomedical and software engineers, Dr. Ian Dixon ...
(Date:8/31/2014)... PARSIPPANY, N.J. , Aug. 31, 2014 ... New Drug Discovery program in Anti-Infective research when two ... the coveted Qualified Infectious Disease Product (QIDP) status from ... granted to drugs which act against pathogens which have ... and are identified by Centre for Disease Control (a ...
(Date:8/30/2014)... (PRWEB) August 31, 2014 The ... a professional and in-depth study on the current ... Global and China. , The report provides a ... and industry chain structure. Global market analysis and ... focus on history, developments, trends and competitive landscape ...
(Date:8/29/2014)... According to a new market report published by ... was valued at USD 3,754.6 million in 2012 and is ... a CAGR of 5.9% from 2013 to 2019. , Nearly ... afflicted by bone and joint disorders, and this number is ... and will continue to increase the demand for orthobiologics. Other ...
Breaking Biology Technology:tinAway Pty. Ltd. launch a crowdfunding campaign to fund a clinical trial of tinAway, a new potential cure for chronic tinnitus 2tinAway Pty. Ltd. launch a crowdfunding campaign to fund a clinical trial of tinAway, a new potential cure for chronic tinnitus 3tinAway Pty. Ltd. launch a crowdfunding campaign to fund a clinical trial of tinAway, a new potential cure for chronic tinnitus 4tinAway Pty. Ltd. launch a crowdfunding campaign to fund a clinical trial of tinAway, a new potential cure for chronic tinnitus 5U.S. FDA Grants QIDP Status for Wockhardt Anti-Infective Drug Discovery Program 2U.S. FDA Grants QIDP Status for Wockhardt Anti-Infective Drug Discovery Program 3Electrical Insulating Varnish Market World, China Regional Analysis & 2020 Forecasts Available at DeepResearchReports.com 2Electrical Insulating Varnish Market World, China Regional Analysis & 2020 Forecasts Available at DeepResearchReports.com 3Global Orthobiologics Market to Reach $5,519.9 Million by 2019: Transparency Market Research 2Global Orthobiologics Market to Reach $5,519.9 Million by 2019: Transparency Market Research 3
... Inc. (NYSE Amex: CUR ) announced it ... develop its human neural stem cell technology for the ... "Research to Treat Cancerous Brain Tumors with Neural Stem ... Investigator John Zhang, MD, PhD, Professor of Neurosurgery, Loma ...
... that attacks the small intestines of humans and animals ... can fight disease and aid in military operations. ... engineering, at the University of Tennessee, Knoxville, and his ... attachment of the microorganism Giardia. Giardia causes one of ...
... Informex , the leading meeting place for buyers ... introduction of a new conference, ,Business Strategies for ... to be hosted October 5-6th, 2011 in Boston, ... topics regarding the future of pharma, sourcing strategies ...
Cached Biology Technology:Neuralstem Awarded Department of Defense Contract for Brain Cancer Research 2Neuralstem Awarded Department of Defense Contract for Brain Cancer Research 3UT professor's pathogen research inspires robotics design for medicine and military 2New Conference Offers Solutions for Success in the Growing Biologics Market 2New Conference Offers Solutions for Success in the Growing Biologics Market 3
(Date:9/2/2014)... suggests that professional baseball pitchers with poor core stability are ... single season because of injury than are pitchers who have ... , In the study, 347 pitchers were assessed for lumbopelvic ... pelvis as they raised a leg to step up were ... 30 days cumulative, not consecutive during the season ...
(Date:9/2/2014)... If you think losing weight is enough to prevent Type ... report in September 2014 issue of The FASEB ... overweight to develop Type 2 diabetes. This study compared genetically ... a fast-food meal, the circulating metabolites, including those related to ... same levels. These findings suggest that the onset of ...
(Date:9/2/2014)... (September 2, 2014) In the battle between our ... unknown ally in bacteria-killing viruses known as phages. In ... Hospital, Partners In Health, Haiti,s National Public Health Laboratory, ... to give up their virulence in order to survive. ... found that cholera,s mutational escape from phage predation ...
Breaking Biology News(10 mins):In pro baseball pitchers, weak core linked to more missed days 2In pro baseball pitchers, weak core linked to more missed days 3What you eat and not just the number of calories, is a significant factor in diabetes risk 2War between bacteria and phages benefits humans 2War between bacteria and phages benefits humans 3
... Long touted as an energy-saving alternative for home ... to be even more efficient, as well as dimmable, ... by householders as a longer-lasting, energy efficient alternative to ... the power and last 1,000 times longer than incandescent ...
... and her colleagues have identified a specific DNA change ... in some people. It provides a potential mechanism that ... consistent with the growing trend of personalized medicine. ... issue of the American Journal of Psychiatry ...
... used as live bait for freshwater fishing. With ... channel catfish and other freshwater fishes. They may ... in bait shops in Arizona, Colorado and New Mexico ... a chytrid fungus called Batrachochytrium dendrobatidis (Bd). "These ...
Cached Biology News:Queen's researchers shine light on compact fluorescent bulb problems 2Altered gene can increase risk of schizophrenia 2Altered gene can increase risk of schizophrenia 3Spring fishing season arrives... and with it, amphibian diseases 2Spring fishing season arrives... and with it, amphibian diseases 3
...
Human/Mouse/Rat p38 alpha Affinity Purified PAb...
sterile filtered, off the clot, all male donors, Total Protein: 4.5 to 8.5 g/dl...
Human alpha-1-antitrypsin. No cross-reactivity with alpha-1-acid glycoprotein, serum albumin or other serum proteins....
Biology Products: