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Transition Therapeutics Announces Third Quarter Fiscal 2009 Financial Results
Date:5/13/2009

oration with Elan to develop and commercialize ELND005 (AZD-103). In April 2007, Transition announced that the FDA granted Fast Track designation to the investigational drug candidate ELND005 (AZD-103).

On October 20, 2008, Elan and Transition announced the patient enrollment target for its randomized, double-blind, placebo-controlled, dose-ranging, safety and efficacy Phase 2 clinical study of ELND005 (AZD-103) in patients with Alzheimer's disease was achieved. The study will evaluate both cognitive and functional endpoints, and each patient's participation is planned to last approximately 18 months.

On April 23, 2009, Elan and Transition announced the receipt of a key patent for Alzheimer's Disease Treatment with ELND005 (AZD-103). The United States Patent and Trademark Office issued US patent number 7,521,481 on April 21, 2009. The patent is entitled "Methods of Preventing, Treating and Diagnosing Disorders of Protein Aggregation," and generally claims methods for treating Alzheimer's disease comprising administering scyllo-inositol ELND005 (AZD-103). The patent will expire in the year 2025 or later due to any patent term extensions.

TT-223 for Diabetes

On March 13, 2008, Lilly and the Company entered into a licensing and collaboration agreement granting Lilly exclusive worldwide rights to develop and commercialize Transition's gastrin based therapies, including the lead compound TT-223, which is currently in early Phase II testing. Under the terms of the agreement, Transition has received a US$7 million upfront payment, and may also receive up to US$130 million in potential development and sales milestones, as well as royalties on sales of gastrin based therapies if any product is successfully commercialized.

Transition and Lilly are both funding the Phase II clinical trial with lead compound TT-223 in type 2 diabetes. Upon completion of this trial, Lilly will be responsible for further development activi
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SOURCE Transition Therapeutics Inc.
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