Navigation Links
Transition Therapeutics Announces Milestone Payment from Elan
Date:12/24/2007

TORONTO, Dec. 24 /PRNewswire-FirstCall/ - Transition Therapeutics Inc. ("Transition" or the "Company") (TSX: TTH; NASDAQ: TTHI), announced today that the Company will receive a US$5million milestone payment under its global collaboration agreement with a subsidiary of Elan Corporation, plc ("Elan") (NYSE: ELN). The milestone payment was triggered by the initiation of a Phase 2 clinical study of Alzheimer's disease drug candidate, ELND005 (AZD-103), which was jointly announced by Transition and Elan on December 21, 2007.

In connection with the enrolment of the first patient in the Phase 2 clinical study, Transition will issue the former shareholders of Ellipsis Neurotherapeutics Inc. ("ENI") 174,123 Transition common shares at a price of $10.86 per share, which represents the weighted average trading price for the last five trading days. The financial terms associated with the acquisition of ENI were previously disclosed in a press release dated March 13, 2006.

About Transition

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

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Information contained in our press releases should be considered accurate only as of the date of the release and may be superseded by more recent information we have disclosed in later press releases, filings with the OSC, SEC or otherwise.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.


'/>"/>
SOURCE Transition Therapeutics Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. Transition Therapeutics Announces Fiscal 2007 Year End Financial Results
2. Transition Therapeutics Receives Remaining Upfront Payment from Elan Corporation, plc
3. Transition Therapeutics to Hold Conference Call on First Quarter Fiscal 2008 Financial Results on Wednesday, November 14, at 8:30 A.M. EST
4. New UIC center to study end-of-life transition
5. Seabrook House Opens Transitional Living Facility: Seabrook West
6. Prime Therapeutics Receives TIPPS Certification
7. Adams Respiratory Therapeutics to Celebrate 10th Anniversary of its Incorporation on September 12
8. Lorus Therapeutics announces election of three new Directors and appoints a new Chairman
9. Deane F. Johnson Center for Neurotherapeutics to Launch First Mobile Medical Unit on October 4th
10. Russell Investment Group Advises Protalix Biotherapeutics of Index Adjustment
11. Adams Respiratory Therapeutics Announces FDA Approval of Grape-Flavored Delsym(R)
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/18/2017)... ... January 18, 2017 , ... Dr. Farhan Qureshi is ... and implants dentistry. His modern dental practice has two convenient office locations in Alexandria ... Top Rated Dentist for the Alexandria area. This award confirms the fact ...
(Date:1/18/2017)... ... January 18, 2017 , ... ... revolutionary Active Brake Technology (ABT), an innovative braking system that allows skaters of ... Technology addresses one of the biggest concerns of beginner and intermediate skaters – ...
(Date:1/17/2017)... ... ... Anesthesia Progress – Everyone wants less pain during dental surgery, ... each patient. Dentists have several general anesthesia alternatives and finding the right option can ... Dental College in Tokyo, Japan wanted to find out which anesthetic was the better ...
(Date:1/17/2017)... ... January 17, 2017 , ... Today, to ... Carol Francis re-releases powerfully uplifting interview with medical expert and prolific author, Dr. ... and pass through tough times, Dr. Bernie Siegel energizes listeners to live life ...
(Date:1/17/2017)... ... January 17, 2017 , ... Etymotic Research will ... of Music Merchants (NAMM) winter trade show, Booth #2876, at the Anaheim Convention ... long been the gold standard for high-definition, in-ear earphones. This classic earphone has ...
Breaking Medicine News(10 mins):
(Date:1/17/2017)...  Jazz Pharmaceuticals plc (Nasdaq: JAZZ ) today ... a Phase 3 clinical trial comparing the efficacy and ... the prevention of hepatic veno-occlusive disease (VOD) in adult ... who are at high risk or at very high ... be conducted across approximately 100 medical centers in ...
(Date:1/17/2017)... Research Future published a Half Cooked Research Report on Endoscopy Devices ... 33.6 million during the period 2016 to 2022 from USD 28.7 ... ... examined as a swiftly growing market and expected to grow at ... in various regions.  The increasing growth in endoscopy procedures is influencing ...
(Date:1/17/2017)... Jan. 17, 2017 Following an initial ... praised the Food and Drug Administration,s (FDA,s) final ... Drug Products by Pharmacies and Outsourcing Facilities." In ... limitation on pre-packaging -- which would have put ... to long term care (LTC) pharmacies.  ...
Breaking Medicine Technology: