TORONTO, July 3 /PRNewswire-FirstCall/ - Transition Therapeutics Inc. ("Transition" or the "Company") (TSX: TTH; NASDAQ: TTHI) Chairman and Chief Executive Officer, Dr. Tony Cruz, is pleased to announce that Mr. Elie Farah has been appointed President in addition to continuing to serve as Chief Financial Officer, and Ms. Nicole Rusaw-George has been appointed to the position of Vice-President, Finance.
"These promotions reflect the strength of our management team and Mr. Farah's and Ms. Rusaw-George's expanding responsibilities in the growth of the Company," commented Dr. Cruz.
Since joining Transition in 2005 as Chief Financial Officer and Vice-President, Corporate Development, Mr. Farah has demonstrated leadership in the execution of the Company's strategic plan across all aspects of the business. Also joining Transition in 2005, Ms. Rusaw-George has held the position of Director of Finance with a focus in the areas of financial reporting and regulatory compliance.
Transition is a biopharmaceutical company, developing novel therapeutics for disease indications with large markets. Transition's lead products include ELND005 (AZD-103) for the treatment of Alzheimer's disease and TT-223 for the treatment of diabetes. Transition has an emerging pipeline of preclinical drug candidates acquired externally or developed internally using its proprietary drug discovery engine. Transition's shares are listed on the NASDAQ under the symbol "TTHI" and the Toronto Stock Exchange under the symbol "TTH". For additional information about the Company, please visit http://www.transitiontherapeutics.com.
Notice to Readers: Information contained in our press releases should be considered accurate only as of the date of the release and may be superseded by more recent information we have disclosed in later press releases, filings with the OSC, SEC or otherwise. Except for historical information, this press release may contain forward-looking statements, relating to expectations, plans or prospects for Transition, including conducting clinical trials. These statements are based upon the current expectations and beliefs of Transition's management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include factors beyond Transition's control and the risk factors and other cautionary statements discussed in Transition's quarterly and annual filings with the Canadian commissions.
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