TORONTO, Feb. 12 /PRNewswire-FirstCall/ - Transition Therapeutics Inc. ("Transition" or the "Company") (TSX: TTH; NASDAQ: TTHI), a product-focused biopharmaceutical company developing therapeutics for disease indications with large markets including Alzheimer's Disease and Diabetes, today announced its financial results for the quarter ended December 31, 2007.
During the second quarter of fiscal 2008 and up to the date of this
press release, the Company achieved the following significant milestones:
ELND005 (AZD-103) - Alzheimer's Disease:
- On January 22, 2008, the Company received a US$5,000,000 milestone
payment from Elan. The milestone payment was triggered by the
initiation of a Phase II clinical study of Alzheimer's disease drug
candidate, ELND005 (AZD-103) on December 21, 2007;
- On December 21, 2007, Elan and Transition Dose First Patient in
Phase II Clinical Study of ELND005 (AZD-103) in Alzheimer's Disease.
The study is a randomized, double-blind, placebo-controlled, dose-
ranging, safety and efficacy study in approximately 340 patients with
mild to moderate Alzheimer's disease. Approximately 65 sites in North
America are expected to participate in the program. The study will
evaluate both cognitive and functional endpoints and each patient's
participation is planned to last approximately 18 months;
- On October 26, 2007, the Company Received the Remaining US$7,500,000
Upfront Payment from Elan. The receipt of US$7,500,000 represents the
second half of the US$15 million upfront payment under the Company's
global collaboration agreement with Elan.
TT-223 (formerly known as "G1") - Diabetes:
- On November 5, 2007, the Company Announced an Update on the Clinical
Development and Partnership activitie
|SOURCE Transition Therapeutics Inc.|
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