Titan Pharmaceuticals Inc. will borrow $20 million from Deerfield Management and use the money to pay off another loan from Oxford Finance Corp.
South San Francisco-based Titan (OTCBB: TTNP) will also spend some of the money on developing its drug Probuphine and on general company costs.
The company, led by President Sunil Bhonsle, will get the loan around April 4.
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