Titan Pharmaceuticals’ (NASDAQ:TTNP) development and commercialization partner for Probuphine, closely held Braeburn Pharmaceuticals, announced that the Centers for Medicare & Medicaid Services (CMS) has granted a Healthcare Common Procedure Coding System (HCPCS) code, or permanent J-code for the product.
The new J-code (J0570) became effective Jan. 1, and coincides with the activation of a new field force to drive the next phase of Probuphine adoption.
"We anticipate that the new code and our expanded commercial team will advance adoption of Probuphine and broaden access for appropriate patients with opioid use disorder," Behshad Sheldon, president and CEO of Braeburn, said in a statement.
HCPCS codes are used by healthcare professionals to identify services and procedures for which they bill public or private health insurance programs. The codes included in the HCPCS set, which is based on the American Medical Association's Current Procedural Terminology, are maintained by CMS and universally accepted by all payers.
Probuphine is the first and only six-month buprenorphine implant for the maintenance treatment of opioid addiction. Probuphine is Titan’s lead product and employs its proprietary ProNeura drug delivery system, which is capable of delivering sustained, consistent levels of medication for three months or longer. Titan is now also developing ProNeura-based products other chronic conditions such as Parkinson's disease and hypothyroidism, where maintaining consistent, around-the-clock blood levels of medication may benefit patients and improve outcomes.