http://finance.individual.com/display_news.asp?doc_id=CT2001199p5085&page=news
July 18, 2001 9:55am
TORONTO, Jul 18, 2001 /PRNewswire
via COMTEX/ -- Transition Therapeutics Inc. (CDNX:TTH), a Canadian biotechnology
company, today announced the Company has submitted a patent application
for a combination therapy with interferon for Multiple Sclerosis ("MS")
which has shown, in animal models, to be up to 50% more effective than
the current interferon-beta therapies alone.
"We are extremely excited about this
new discovery," said Dr. Tony Cruz, President & CEO of Transition Therapeutics
Inc. "The increased efficacy observed with this combination therapy has
the potential to significantly improve the current benefits of interferon
therapy in MS patients and also to extend the patent life of existing MS
products."
Currently three interferon-based
products are the major form of therapy in MS, representing approximately
90% of the MS market or approximately US$1.6 billion in sales worldwide.
Sales of the interferon products in MS have increased approximately 20%
over the past year.
"The discovery of the combination
therapy was made possible by the use of a demyelinating Transgenic Mouse
Model recently licensed by Transition Therapeutics Inc.," said Dr. Mario
Moscarello, an emeritus scientist at The Hospital for Sick Children Research
Institute and a professor emeritus at the University of Toronto. "This
model is unique in that it contains most pathologies observed in human
disease."
About Transition Therapeutics
Inc.
Transition Therapeutics Inc. is a
Canadian biotechnology company developing products for Multiple Sclerosis
and other large markets in inflammatory and fibrotic diseases. The Company's
technology focuses on early stage therapy by inhibiting normal cells from
undergoing a conversion to a diseased state. The Company's lead therapeutic
program is focused in the treatment of multiple sclerosis with other programs
in restenosis, diabetes and obesity.
Transition Therapeutics Inc.'s shares
trade on the Canadian Venture Exchange under the ticker symbol, TTH.
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 know 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.
SOURCE Transition Therapeutics Inc.
CONTACT:
Dr. Tony Cruz, President & CEO, Transition
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Copyright (C) 2001 PR Newswire
Source: PR Newswire
Therapeutics Inc., 415 Yonge Street, Ste. 1103, Toronto, Ontario
M5B 2E7,
Ph: 416-260-7770, x.223, Fx: 416-260-2886,
tcruz@transitiontherapeutics.com; Michael Lincoln, VP of Business
Development, Transition Therapeutics Inc., 415 Yonge Street, Ste. 1103,
Toronto, Ontario M5B 2E7, Ph: 416-260-7770, x.225, Fx: 416-260-2886,
mlincoln@transitiontherapeutics.com
(TTH.)