Titan Pharmaceuticals announces licensing agreement with Ocular Therapeutix

Titan Pharmaceuticals Inc. today announced that it has granted an exclusive license to Ocular Therapeutix Inc. pertaining to certain patent applications for ophthalmic uses in both humans and nonhuman animals in the territory of the United States.

According to a news release, under the terms of the agreement, Ocular will pay Titan an upfront licensing fee with the potential for additional payments upon reaching certain milestones.

Kate Beebe DeVarney, PhD, resident and COO of Titan Pharmaceuticals, said the company was pleased to enter into this licensing agreement with Ocular.

“Our team has been working hard to monetize our significant scientific assets,” she said in the release. “We believe our drug delivery technology can provide significant benefit to companies across multiple therapeutic areas.”