TORONTO, May 24 /CNW/ - Transition Therapeutics Inc. (CDNX:TTH) announced today the Company has signed an exclusive license to use a demyelinating transgenic mouse model to screen therapeutic inhibitors for Multiple Sclerosis (MS) with HSC Research and Development Limited Partnership, the licensing agent of The Hospital for Sick Children. This model will be used to further advance Transition's lead compound for its MS program.
"Our collaboration with HSC Research and Development Limited Partnership allows us to accelerate our MS program in a cost effective manner", said Dr. Tony Cruz, President & CEO of Transition Therapeutics Inc. "This model in combination with the more traditional Experimental Allergic Encephalomyelyitis mouse model provides Transition with a strong platform to screen for effective novel therapies in MS."
Transition Therapeutics' peptide therapy has been shown to be more effective in inhibiting the clinical signs in an animal model of MS than the currently used therapies. In addition, the peptide therapy is highly effective without demonstrating any signs of toxicity. Transition Therapeutics' technology targets specific molecules involved in recruiting and converting normal cells into highly responsive diseased cells. As a result, the Company's platform technology focuses on the development of therapeutic inhibitors that only act on cells undergoing this conversion.
The transgenic MS mouse model will be used to identify new treatments. "The model is unique in that it contains most pathologies observed in human disease and has already been successful in identifying another therapy currently in the clinic." said Dr. Mario Moscarello, a senior scientist emeritus at The Hospital for Sick Children Research Institute and professor emeritus at the University of Toronto.
According to the United States National Multiple Sclerosis Society, MS affects approximately one in 1000 persons in North America and Europe. Annual treatment costs related to the disease are approximately US$1.5 billion worldwide.
About Transition Therapeutics
Transition Therapeutics Inc. is a Canadian biopharmaceutical company developing novel approaches and therapeutics to inhibit inflammatory and fibrotic diseases through disease-specific mechanisms. The Company's platform technology focuses on the development of therapeutic inhibitors that block normal cells from undergoing a conversion to a diseased state. The Company's lead therapeutic programs are focused in the treatment of multiple sclerosis, diabetes, obesity, restenosis and scarring.
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.
For further information:
Dr. Tony Cruz, President & CEO, Transition Therapeutics Inc., 415 Yonge Street, Ste. 1103, Toronto, Ontario, M5B 2E7, Ph: (416) 260-7770, x.223, Fx: (416) 260-2886, firstname.lastname@example.org;
Joanna Longo, Investor Relations, The Equicom Group Inc., Ph: (416) 815-0700, x.233, Fx: (416) 815-0080, email@example.com