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Transition Therapeutics Inc. (TTHI) Announces Licensing and Collaboration Agreement with Eli Lilly and Company

Transition Therapeutics Inc. (TTHI), based in Toronto, Ontario, Canada, is a biopharmaceutical company that develops novel therapeutics for diseases which affect large portions of the population. The focus of the company is discovering and advancing lead molecules to the most valuable and competitive targets in the industry using a state-of-the-art drug discovery engine, accelerating the development of multiple products for large disease indications, and generating shareholder value through partnership with major pharmaceutical companies. The company’s lead products are ELND005 for the treatment of Alzheimer’s disease, and TT-223 for the treatment of diabetes.

The company announced a licensing and collaboration agreement with Eli Lilly and Company (Lilly). Lilly, headquartered in Indianapolis, Indiana, is developing a growing portfolio of first-in-class and best-in-class pharmaceutical products by applying the latest research from its laboratories and from collaborations with eminent scientific organizations. The agreement grants 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. Gastrin-based therapies are an emerging class of potential disease-modifying therapies for patients with diabetes. They have been shown to provide sustained improvement in glycemic control in preclinical models and early clinical studies.

Under the terms of the agreement, Transition will receive a $7M upfront payment, and may also receive up to $139M in potential development and sales milestones, as well as royalties on sales of gastrin-based therapies successfully commercialized. Transition and Lilly will both participate in the currently planned phase II clinical trial with lead compound TT-223 in type 2 diabetes. Thereafter, Lilly will be responsible for further development activities and the commercialization of all gastrin-based therapeutic products worldwide.

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