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Article: Transition Therapeutics In Potential $200M Elan Deal.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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West Coast Editor
In an uncommonly structured deal, Elan Corp. plc is backfilling its troubled pipeline with a Phase I drug candidate for Alzheimer's disease, paying Transition Therapeutics Inc. as much as $200 million - $15 million of that amount promised in the next two years - for the small-molecule AZD-103.
Toronto-based Transition's stock (TSX:TTH) rose C6 cents Wednesday to close at C75 cents (US67 cents).
The joint development and commercialization arrangement gives Transition $7.5 million this year and the same amount in 2007, with the possibility for up to $185 million in milestone payments.
Dublin, Ireland-based Elan and ...
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