Wednesday July 24, 8:48 am Eastern Time
SOURCE: Transition Therapeutics Inc.
TORONTO, ONTARIO--Transition Therapeutics Inc. ("Transition") (TSXV: TTH) today announced that it has received approval of its Clinical Trial Application ("CTA") from Health Canada to begin Phase I human trials of its interferon enhancing therapy, a therapy that has been demonstrated in pre-clinical studies to be significantly more effective than interferon alone in the treatment of Multiple Sclerosis ("MS").
"The approval of the CTA allows Transition to progress this therapy to the next stage of development and demonstrates a significant milestone for the Company." said Tony Cruz, Chairman and CEO of Transition Therapeutics Inc.
Transition expects to begin dosing patients for this Phase I trial by the end of August and the trial should be complete by the end of 2002.
Interferon is the current gold standard in the treatment of MS and is also used for the treatment of Hepatitis C, Hepatitis B and Cancer. Worldwide sales of interferon are approximately US $5.3 billion. Transition previously reported that its interferon enhancing therapy significantly reduced the symptoms and pathologies associated with MS in several different animal models for MS. Transition has new data showing that this therapy also has more potent anti-viral and anti-proliferative effects than interferon alone and therefore may have applications in Hepatitis C, Hepatitis B and Cancer. Transition plans to perform additional pre-clinical studies in these areas.
About Transition Therapeutics
Transition Therapeutics Inc. is a publicly listed biopharmaceutical company developing innovative therapeutics focusing on the treatment of multiple sclerosis, diabetes and restenosis. Transition offers a deep product portfolio and a strong management team with expertise in product development. Transition's management intends to continue to build shareholder value by rapidly and cost effectively advancing products from discovery to the clinic and licensing to corporate partners.
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Transition Therapeutics Inc.
415 Yonge Street, Ste. 1103
Toronto, Ontario M5B 2E7
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