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Information contained in our press releases should be considered accurate only as of the date of the release and may be superseded by more recent information we have disclosed in later press releases, filings with the OSC, SEC or otherwise.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:6/27/2016)... ... June 27, 2016 , ... "FCPX editors can now reveal their media ... Pro X," said Christina Austin - CEO of Pixel Film Studios. , ProSlice ... X users can now reveal the media of their split screens with growing ...
(Date:6/27/2016)... Overland Park, KS (PRWEB) , ... June 27, 2016 , ... ... leader in retailers of Eyeglasses . , Millions of individuals in the United ... life, eyeglasses have become a way to both correct vision and make a fashion ...
(Date:6/26/2016)... ... , ... PawPaws brand pet supplements owned by Whole Health Supply ... health of felines. The formula is all-natural and is made from Chinese herbs that ... Cat Kidney Support Supplement Soft Chews are Astragalus Root Extract and Rehmannia Root ...
(Date:6/25/2016)... ... ... Austin residents seeking Mohs surgery services, can now turn to Dr. Jessica ... Peckham for medical and surgical dermatology. , Dr. Dorsey brings specialization to include Mohs ... Mohs Micrographic Surgery completed by Dr. Dorsey was under the direction of Glenn Goldstein, ...
(Date:6/25/2016)... ... June 25, 2016 , ... As a lifelong Southern ... Laude and his M.D from the David Geffen School of Medicine at UCLA. He ... Los Angeles to complete his fellowship in hematology/oncology at the UCLA-Olive View-Cedars Sinai program ...
Breaking Medicine News(10 mins):
(Date:6/26/2016)... June 27, 2016 Jazz Pharmaceuticals plc (Nasdaq: ... under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as ... Celator Pharmaceuticals, Inc. ("Celator"; Nasdaq: CPXX ) ... Daylight Time). As previously announced on May ... definitive merger agreement under which Jazz Pharmaceuticals has commenced ...
(Date:6/24/2016)... 24, 2016  Global Blood Therapeutics, Inc. (GBT) (NASDAQ: ... novel therapeutics for the treatment of grievous blood-based ... closing of its previously announced underwritten public offering ... public offering price of $18.75 per share. All ... by GBT. GBT estimates net proceeds from the ...
(Date:6/24/2016)... -- Dehaier Medical Systems Ltd. (NASDAQ: DHRM ... sells medical devices and wearable sleep respiratory products in ... agreement with Hongyuan Supply Chain Management Co., Ltd. (hereinafter ... 2016, to develop Dehaier,s new Internet medical technology business. ... leverage Hongyuan Supply Chain,s sales platform to reach Dehaier,s ...
Breaking Medicine Technology: