More MS news articles for Dec 2001

Transition Therapeutics Enhances Intellectual Property Portfolio For Its Multiple Sclerosis Program

http://news.excite.com/news/pr/011205/transition-ms-program

Wed, Dec 05 8:31 AM EST

TORONTO, Dec. 5 /PRNewswire/ - Transition Therapeutics Inc. (CDNX: TTH) announced today that it has acquired the intellectual property to Biogenesys' methlydonor technology , designed to treat Multiple Sclerosis and other diseases.

"We believe this intellectual property provides Transition with an additional level of protection for its interferon combination therapy currently being developed for use in multiple sclerosis," said Dr. Tony Cruz, President and CEO of Transition Therapeutics, Inc. "We are confident in the potential of our interferon combination product and expect to take it into Phase I clinical trials by mid 2002."

Interferon-based products currently represent approximately 90% of the Multiple Sclerosis market, estimated at over USD$2.0 billion. Transition's interferon combination therapy has shown, in animal models, to be up to 50% more effective than interferon-based products alone.

The patents were purchased from Biogenesys, Inc. in exchange for 100,000 of Transition's common shares and future royalties on net sales of the methyldonor technology. As part of the purchase agreement, Transition Therapeutics Inc. has provided Biogenesys with an exclusive license for use of the methyldonor technology in the therapeutic areas of HIV, HIV encephalopathy, psychiatric disorders, Alzheimer's Disease and rheumatological diseases.

"These agreements will enable both Transition and Biogenesys to advance and build on the methlydonor technology in their respective therapeutic focus areas," said Dr. Michael Rabinoff, President and CEO of Biogenesys, Inc.

About Transition Therapeutics Inc.

Transition Therapeutics Inc. is a Canadian biopharmaceutical company developing novel therapeutics to treat inflammatory and fibrotic diseases. The Company is focused on the treatment of Multiple Sclerosis, diabetes, and restenosis.

About Biogenesys, Inc.

Biogenesys, Inc. is a privately held U.S. Corporation developing products to treat immune mediated neurological dysfunction, HIV, HIV encephalopathy, Alzheimer's Disease, psychiatric and other disorders. The corporation is involved in research and development of methyl donor technology, genomic and proteomic technology, and employs rational drug design, pharmacogenetics and bioinformatics to advance product development.

To the extent that any statements made in this release contain information that is not historical, these statements are essentially forward- looking. These statements are subject to risks and uncertainties that cannot be predicted or quantified and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include: the difficulty of predicting the timing regulatory approvals or outcome of regulatory actions; market and customer acceptance and demand for new pharmaceutical products; ability to market products; the impact of competitive products, services or pricing; timing or success of product development and launch; availability of raw materials; the regulatory environment; fluctuations in operating results; progress of clinical trials; dependence on corporate relationships; government policies or actions; or other risks detailed from time-to-time in the company's filings with Ontario Securities Commission. Forward looking statements can be identified by the use of words such as "expects", "plans", "will", "believes", "estimates", "intends", "may" and other words of similar meaning. Should known or unknown risks or uncertainties materialize, or should our assumptions prove inaccurate, actual results could vary materially from those anticipated. The Company undertakes no obligation to publicly update any forward-looking statements.
 
 
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