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Transition Therapeutics Announces Fiscal 2007 Year End Financial Results
Date:9/12/2007

(TM) license agreement between the

Company and Novo Nordisk A/S ("Novo Nordisk") which restated the

rights and responsibilities of the parties. Novo Nordisk retains

exclusive, worldwide rights to the E1-I.N.T.(TM) program and the

Company regains exclusive ownership and rights to all other I.N.T.

(TM) programs, including GLP1-I.N.T.(TM);

- The Company and the Juvenile Diabetes Research Foundation

International ("JDRF"), located in the United States, entered into an

agreement in which the JDRF will provide milestone driven funding of

up to US$4 million to assist in the expedited development of GLP1-

I.N.T.(TM) over a two year period.

Corporate Development

---------------------

- On August 20, 2007 the Company's common shares began trading on the

NASDAQ Capital Market under the symbol "TTHI". The Company's common

shares will continue to trade on the Toronto Stock Exchange in

addition to the NASDAQ;

- On July 9, 2007 the Company completed a consolidation of its issued

and outstanding common shares on the basis of one (1) post-

consolidation common share for every nine (9) pre-consolidation

common shares. The share consolidation was effected to satisfy the

NASDAQ's listing criteria regarding minimum bid price.

- On July 11, 2007 the Company completed a private placement financing

issuing 1,736,107 common shares at a price of $14.40 per common

share, raising gross proceeds of approximately $25,000,000 from a

number of funds managed by Oracle Investment Management Inc., The

Invus Group LLC, and a large Boston based investment management

company. The Company has incurred total share issuance costs to date

of $1,023,596, resulting in net cash proceeds of $23,976,404;

- On November 8, 2006 the Company comple
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SOURCE Transition Therapeutics Inc.
Copyright©2007 PR Newswire.
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