Braeburn and CEO Behshad Sheldon Win Stevie Awards

PRINCETON, N.J. – November 21, 2016 – On Friday, November 18, 2016, Probuphine® was named a gold award winner at the 13th annual Stevie® Awards for Women in Business in the category of “Best New Product or Service of the Year.” Braeburn Pharmaceuticals’ President and CEO, Behshad Sheldon, was also selected as a bronze award winner in the category of “Best Female Executive of the Year.” Both awards were in the Consumer Products category.

Sheldon is committed to bringing innovative, new treatment options to treat chronic diseases shrouded in stigma, such as opioid dependence, pain and schizophrenia. Braeburn is focused on serving patients suffering from health conditions where there has been little innovation in recent years.

Gold award winner Probuphine is a six-month buprenorphine implant for the maintenance treatment of opioid addiction. Under Sheldon’s leadership, this product advanced through clinical development and received FDA approval for commercialization in May 2016. Braeburn is also developing six late-stage product candidates and two earlier-stage product candidates, all of which are either injectables or implants.

“Braeburn’s mission is to bring innovative and transformative treatments to underserved patients as quickly as possible,” said Sheldon. “Our company has a robust pipeline of treatments for patients who are often neglected and stigmatized by society, yet who deserve the same level of innovation that is dedicated to other chronic diseases. We are honored to be recognized as we work tirelessly to fulfill our vision.”

The awards were presented Friday, November 18 at the Annual Stevie Awards dinner in New York City. The event featured nominees from the U.S. and around the world, including leaders, entrepreneurs, employees and their companies.

“Judges were impressed with the quality of each nomination that qualified as a Stevie Finalist. The competition has grown each year because there are so many high-achieving women all over the world, who serve as an inspiration to those who would like to start, grow or lead a business,” said Michael Gallagher, founder and president of the Stevie Awards. “It is always a privilege to recognize such outstanding women.”For more information about Braeburn Pharmaceuticals, please visit us online at BraeburnPharmaceuticals.com.

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About Stevie Awards
The Stevie Awards are conferred in seven programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, The American Business Awards, The International Business Awards, the Stevie Awards for Great Employers, the Stevie Awards for Women in Business and the Stevie Awards for Sales & Customer Service. Stevie Awards competitions receive more than 10,000 entries each year from organizations in more than 60 nations. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. To learn more about the fellow nominees in the “Female Executive of the Year – Consumer Products” category, please visit https://stevieawards.com/women/2016-stevie-award-winners.

About Braeburn Pharmaceuticals
Braeburn Pharmaceuticals, an Apple Tree Partners company, is a commercial-stage pharmaceutical company delivering individualized medicine in neuroscience. Long-acting therapeutic treatment options can be essential to improving patient outcomes and facilitating recovery in neurological and psychiatric disorders, which are often complicated by stigma and present significant public health challenges. Braeburn’s commercial product, Probuphine® (buprenorphine) implant was approved by the FDA in May 2016. Braeburn’s investigational product pipeline consists of long-acting implantable and injectable therapies for serious neurological and psychiatric disorders, including opioid addiction, pain, and schizophrenia. Braeburn’s pipeline products are at various stages of clinical development and include weekly and monthly CAM2038 subcutaneous injection depot formulations of buprenorphine, being investigated in opioid addiction and pain, BB0417 buprenorphine/granisetron injectable for acute pain, and BB0817, six-month risperidone implant being investigated in schizophrenia. More information on Braeburn can be found at www.braeburnpharmaceuticals.com .

About Probuphine

Probuphine is the only six-month treatment for opioid dependence that delivers buprenorphine continuously using Titan Pharmaceuticals’ (NASDAQ: TTNP) ProNeura™ technology. Probuphine is placed under the skin of the upper arm during an outpatient office procedure and is removed in a similar manner. Probuphine is available through a closed distribution system. To learn more about how to obtain visit: www.braeburnaccessprogram.com. Qualified healthcare providers can register for Probuphine training at www.probuphineREMS.com or by calling 1-866-397-8939. Probuphine is available in all 50 U.S. States; people interested in finding a provider in their area can visit www.probuphinerems.com/probuphine-locator.

Probuphine Indication and Important Safety Information

PROBUPHINE is indicated for the maintenance treatment of opioid dependence in patients who have achieved and sustained prolonged clinical stability on low-to-moderate doses of a transmucosal buprenorphine-containing product (i.e., doses of no more than 8 mg per day of Subutex or Suboxone sublingual tablet or generic equivalent).

PROBUPHINE should be used as part of a complete treatment program to include counseling and psychosocial support.

PROBUPHINE is not appropriate for new entrants to treatment and patients who have not achieved and sustained prolonged clinical stability, while being maintained on buprenorphine 8 mg per day or less of a Subutex or Suboxone sublingual tablet or generic equivalent.

WARNING: IMPLANT MIGRATION, PROTRUSION, EXPULSION and NERVE DAMAGE ASSOCIATED WITH INSERTION and REMOVAL

Risk Associated with Insertion and Removal

Insertion and removal of PROBUPHINE are associated with the risk of implant migration, protrusion, expulsion resulting from the procedure. Rare but serious complications including nerve damage and migration resulting in embolism and death may result from improper insertion of drug implants inserted in the upper arm. Additional complications may include local migration, protrusion and expulsion. Incomplete insertions or infections may lead to protrusion or expulsion.

Because of the risks associated with insertion and removal, PROBUPHINE is available only through a restricted program called the PROBUPHINE REMS Program. All Healthcare Providers must successfully complete a live training program on the insertion and removal procedures and become certified, prior to performing insertions or prescribing PROBUPHINE implants. Patients must be monitored to ensure that PROBUPHINE is removed by a healthcare provider certified to perform insertions.

Please see additional Important Safety Information in the Package Insert that can be found at probuphine.com or by following this link http://probuphinerems.com/wp-content/uploads/2016/02/final-approved-pi.pdf.

Media Contact:

Coltrin & Associates on behalf of Braeburn Pharmaceuticals

Caleb Cluff

212-221-1616

Caleb_Cluff@coltrin.com

Behshad Sheldon

Behshad has more than 25 years of experience leading pharmaceutical development and commercialization in the United States and globally. Prior to joining Braeburn, Behshad spent 10 years at Otsuka Pharmaceuticals, having co-founded the Otsuka Princeton office in 2002. Ms. Sheldon last served as a member of the board of directors of the Otsuka R&D organization, contributing to the oversight of 18 pre-approval programs for 13 products in CNS, cardio-renal, pain, dermatology, and oncology. Simultaneously, she served as senior vice president, patient & branding strategy in the commercial organization, where she was responsible for global and United States marketing, alliance management, and early development strategy. Prior to Otsuka, Behshad held positions with increasing responsibility at GlaxoSmithKline and Bristol-Myers Squibb. Throughout her 27-year career, Behshad has driven the success of blockbuster products such as Glucophage, Plavix, and Abilify, and has contributed to several strategic alliances and acquisitions, including the landmark 2011 agreement between Otsuka and Lundbeck involving 5 CNS products. Behshad holds a Bachelor of Science in Neuroscience from the University of Rochester.

David McIntyre

David has over 20 years of experience as a senior executive and corporate advisor with multinational and growth companies in a wide variety of industries, including life sciences. With professional qualifications in finance and law, David has held senior financial, legal and operational roles in public and private organizations.

David has been a Partner in Apple Tree Partners since 2012 where his responsibilities includes a focus on medical device and healthcare technology investments. Previously David was Executive Vice President, Chief Financial Officer of HeartWare International, Inc. (NASDAQ: HTWR) from 2005 through 2011, and assumed the additional responsibilities of Chief Operating Officer during HeartWare’s global commercialization phase for the period from 2008 through 2011. HeartWare was acquired by Medtronic in 2016 in a transaction valued at approximately $1.1 billion.

Prior to HeartWare, David practiced as a senior attorney in private practice specializing in corporate, mergers and acquisitions and equity capital markets with Baker & McKenzie and KPMG as well as holding various senior financial roles in multi-national companies including Coal & Allied Limited, a publicly traded subsidiary of the Rio Tinto Group of companies.

David holds a Bachelor of Economics (Accounting) from the University of Sydney (Australia), a Bachelor of Law from the University of Technology, Sydney (Australia) and a Masters of Business Administration (Fuqua Scholar) from Duke University. He is also a Certified Practicing Accountant (CPA) and is admitted as a Legal Practitioner of the Supreme Court of New South Wales (in Australia).

Seth Harrison, MD

Seth Harrison is the managing partner of Apple Tree Partners and serves as Executive Chairman of Braeburn Pharmaceuticals. He has invested in life sciences since 1991. Seth has served as founding investor, acting CEO or chairman of numerous portfolio companies. He is currently also Chairman of Tokai Pharmaceuticals, Chairman of Aileron Therapeutics and Deputy Chairman of Heartware International, all companies he founded. Prior to founding ATP, Seth was a general partner at Oak Investment Partners and earlier was a venture partner at Sevin Rosen Funds. His prior investments include: ArQule, Coelacanth, Cyrano Sciences, Gloucester Pharmaceuticals, Informed Access, SGX Pharmaceuticals, Ultracision and ViroPharma. Seth received an A.B. from Princeton University, an MD and MBA both from Columbia University and completed a surgery internship at the Presbyterian Hospital in the City of New York. From 2002 – 2010 he served on the board of the International Partnership for Microbicides, a Rockefeller Foundation/Gates Foundation sponsored public-private partnership engaged in the development of anti-HIV microbicides.

Behshad Sheldon

Behshad Sheldon has more than 25 years of experience leading pharmaceutical development and commercialization in the United States and globally. Prior to joining Braeburn, Behshad spent 10 years at Otsuka Pharmaceuticals, having co-founded the Otsuka Princeton office in 2002. Ms. Sheldon last served as a member of the board of directors of the Otsuka R&D organization, contributing to the oversight of 18 pre-approval programs for 13 products in CNS, cardio-renal, pain, dermatology, and oncology. Simultaneously, she served as senior vice president, patient & branding strategy in the commercial organization, where she was responsible for global and United States marketing, alliance management, and early development strategy. Prior to Otsuka, Behshad held positions with increasing responsibility at GlaxoSmithKline and Bristol-Myers Squibb. Throughout her 27-year career, Behshad has driven the success of blockbuster products such as Glucophage, Plavix, and Abilify, and has contributed to several strategic alliances and acquisitions, including the landmark 2011 agreement between Otsuka and Lundbeck involving 5 CNS products. Behshad holds a BS degree in Neuroscience from the University of Rochester.

Braeburn Pharmaceuticals’ Probuphine® Study Hits Enrollment Milestone

FOR IMMEDIATE RELEASE

Braeburn Pharmaceuticals’ Probuphine® Study Hits Enrollment Milestone

95 of 180 Patients Enrolled; Additional Patients Screened, Awaiting Randomization

Princeton, N.J. – Sept. 24, 2014 – Braeburn Pharmaceuticals today announced that it has surpassed the midway point for patient enrollment in its Phase 3 study of Probuphine®, which began in July of 2014. Probuphine is a buprenorphine subdermal implant being studied for the maintenance treatment of opioid dependence. Completion of the study is on track for the middle of 2015, with submission of the New Drug Application (NDA) to the U. S. Food and Drug Administration (FDA) expected to follow later in the year.

“We are encouraged by the speed with which stable opioid-dependent patients are enrolling in this trial,” said Behshad Sheldon, president and CEO of Braeburn Pharmaceuticals. “We believe the pace of enrollment reflects the great need for new long-term maintenance treatment options for those suffering from opioid dependence. We will continue working with our clinical investigators to complete this study expeditiously, and if ultimately approved by the FDA, look forward to the opportunity to provide physicians and their patients a unique treatment alternative.”

There are currently 21 clinical research sites with IRB approval to participate in the six-month, randomized, double-blind, double-dummy study. All sites are actively recruiting and screening patients. As of today 95 of 180 anticipated patients have been enrolled in the study. An additional 10 patients are awaiting scheduling for randomization, and 23 patients are in the middle of the screening process. More information on primary endpoints as well as inclusion and exclusion criteria for the study can be found here.

“It is fitting for Braeburn to share progress on patient participation in its Probuphine study during National Recovery Month, a time when the addiction community is encouraged to spread the positive message that treatment is effective and people can and do recover,” said Frank Young, M.D., Ph.D., executive vice president, Clinical and Regulatory Affairs. “It is our hope that, one day, Probuphine will be an approved long-term maintenance treatment option to assist the overwhelming number of people with opioid dependence struggling to get their lives back.”

About Opioid Dependence

According to recent estimates, there are 2.2 million people with opioid dependence in the U.S. Approximately 20 percent of this population is addicted to illicit opioids, such as heroin, and the other 80 percent to prescription opioids, such as oxycodone, hydrocodone, methadone, hydromorphone and codeine. Before the year 2000, medication-assisted therapies for opioid dependence had been sanctioned to a limited number of facilities in the U.S. The Drug Addiction Treatment Act of 2000 (DATA 2000) allowed medical office-based treatment of opioid dependence and greatly expanded patient access to medication-assisted treatments. As a result, an estimated 1.2 million people in the U.S. sought treatment for opioid dependence in 2011.

About Probuphine

Probuphine is an investigational subdermal implant designed to deliver continuous, around the clock blood levels of buprenorphine for six months following a single treatment, and to simplify patient compliance and retention. Buprenorphine, an approved agent for the treatment of opioid dependence, is currently available in the form of daily dosed sublingual tablets and film formulations, with reported 2012 sales of $1.5 billion in the United States.

Probuphine was developed using ProNeura™, Titan’s continuous drug delivery system that consists of a small, solid implant made from a mixture of ethylene-vinyl acetate (EVA) and a drug substance. The resulting construct is a solid matrix that is placed subdermally, normally in the upper arm in a simple office procedure, and removed in a similar manner at the end of the treatment period. The drug substance is released slowly and continuously through the process of dissolution resulting in a steady rate of release.

The efficacy and safety of Probuphine has been studied in several clinical trials, including a 163-patient, placebo-controlled study over a 24-week period (published in the Journal of the American Medical Association (JAMA)), and a follow on study of 287 patients (published in the journal Addiction).

About Braeburn Pharmaceuticals

Braeburn Pharmaceuticals, an Apple Tree Partners company, is focused on developing and commercializing new treatment options for serious neuropsychiatric disorders, including addiction, in order to help those whose suffering is compounded by the stigma associated with their disease, and for whom long-acting medicines are particularly beneficial. In December 2012 Braeburn licensed the U.S. and Canadian development and commercialization rights for its first product, Probuphine®, a buprenorphine subdermal implant for the maintenance treatment of opioid dependence. Probuphine is currently the subject of a Phase 3 clinical study designed to address questions the FDA posed in its complete response letter last year, after review of the original NDA. Completion of the study is expected by the middle of 2015, to be followed by resubmission of the NDA later in the year.

Braeburn’s executive team has decades of experience successfully bringing medically significant pharmaceutical brands to market in several therapeutic areas including psychiatry, cardiovascular, metabolics, oncology, and dermatology. To learn more, please visit www.braeburnpharma.com.

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