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Information contained in our press releases should be considered accurate only as of the date of the release and may be superseded by more recent information we have disclosed in later press releases, filings with the OSC, SEC or otherwise.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:12/8/2016)... ... December 08, 2016 , ... The Florida Hospital Tampa Wound ... Medical Society (UHMS), the leading authority in hyperbaric medicine. This accreditation identifies the ... hospitals and facilities have earned this distinction. This is the second time the ...
(Date:12/8/2016)... Pennsylvania (PRWEB) , ... December 08, 2016 , ... ... Duck Donuts Franchising Company LLC, announced the first national #QuackGivesBack campaign which ... , “This was our first franchise-wide Quack Gives Back initiative, ...
(Date:12/8/2016)... and JENNERSVILLE, Pa. (PRWEB) , ... December 08, ... ... that Penn Medicine Southern Chester County, a Property owned by an affiliate of ... million, 72,000 square foot Penn Medicine Southern Chester County ambulatory care center (ACC) ...
(Date:12/8/2016)... ... December 08, 2016 , ... CURE Media Group, the nation’s ... groups, has aligned with Upstage Lung Cancer in efforts to combat lung cancer, announced ... J. Hennessy, Jr said, “CURE Media Group is honored to team up with Upstage ...
(Date:12/8/2016)... ... December 08, 2016 , ... David J. Dykeman , ... firm Greenberg Traurig, LLP, will speak at DeviceTalks West, Dec. 12, 2016, at the ... series, and attorneys from the firm’s global Life Sciences & Medical Technology Group have ...
Breaking Medicine News(10 mins):
(Date:12/8/2016)... MOUNTAIN VIEW, Calif. , Dec. 8, 2016 ... it intends to offer newly issued shares of common stock, ... "Shares") pursuant to an underwritten public offering.  The final terms ... at the time of pricing, and there can be no ... completed. IRIDEX expects to use the net proceeds ...
(Date:12/8/2016)... -- Australia Glaucoma Surgery Devices Market Outlook to ... Glaucoma Surgery Devices Market Outlook to 2022", provides ... Devices market. The report provides value, in millions ... prices (USD) within market segement - Glaucoma Drainage ... and distribution shares data for each of these ...
(Date:12/8/2016)...  The global biosurgery market is expected to grow ... of 2016 to 2021. The market is poised to ... billion in 2016. The market is primarily driven by ... injuries and spinal problems, increasing clearance of biosurgery products ... loss management. In this report, the biosurgery ...
Breaking Medicine Technology: