Transition And Elan To Develop Alzheimer's Drug
Transition Therapeutics (TSX: TTH.TO) entered into an agreement with Elan Corporation (ELN) to co-develop and commercialize Alzheimer's drug AZD-103.
Transition will recieve $15 million U.S. in upfront payments, and future milestone payments of up to $185 million U.S. depending on regulatory approvals.
AZD-103 is a small molecule compound that inhibits beta-amyloid buildup shown to be a key pathological sign of Alzheimer's. The drug is currently in phase 1 clinical trials.
Transition is the second Canadian biotech firm to announce big news in just two days, as AnorMED (ANOR) agreed to a cash buyout offer from Millenium (MLNM) and rejecting an offer from Genzyme (GENZ).
Canada boasts world class research facilities, easier to collaborate with than distant over seas nations, and might be seen as relatively cheap for U.S. firms.
Look for Transition shares to skyrocket on the Toronto Stock Exchange (TSX)
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Transition Therapeutics (TSX: TTH.TO) entered into an agreement with Elan Corporation (ELN) to co-develop and commercialize Alzheimer's drug AZD-103.
Transition will recieve $15 million U.S. in upfront payments, and future milestone payments of up to $185 million U.S. depending on regulatory approvals.
AZD-103 is a small molecule compound that inhibits beta-amyloid buildup shown to be a key pathological sign of Alzheimer's. The drug is currently in phase 1 clinical trials.
Transition is the second Canadian biotech firm to announce big news in just two days, as AnorMED (ANOR) agreed to a cash buyout offer from Millenium (MLNM) and rejecting an offer from Genzyme (GENZ).
Canada boasts world class research facilities, easier to collaborate with than distant over seas nations, and might be seen as relatively cheap for U.S. firms.
Look for Transition shares to skyrocket on the Toronto Stock Exchange (TSX)
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posted by Nico at
7:59 AM
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