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Transition Therapeutics Inc Enters Into Osteoarthritis License And Collaboration Agreement With Eli Lilly And Co

Tuesday, 23 Jul 2013 04:44pm EDT 

Transition Therapeutics Inc announced the exclusive licensing of worldwide rights to a small molecule transcriptional regulator (TT-601) from Eli Lilly and Company for the treatment of osteoarthritis (OA) pain. TT-601 is a potent and selective ligand for a nuclear receptor target. Modulating the activity of this target in patients with osteoarthritis may provide pain relief to a segment of OA patients who do not have adequate response to therapy with NSAIDs (non-steroidal anti-inflammatory drugs). TT-601 has completed preclinical development to date and Transition anticipates can enter the clinic in the first half of 2014. Under the terms of the agreement, Transition has acquired the rights to develop and potentially commercialize TT-601. Lilly retains an option to reacquire all rights to TT-601 following review of clinical proof-of-concept study results. If Lilly exercises this option right, Transition would be eligible to receive payments of approximately USD130 million and a high single-digit royalty on sales of products containing TT-601 should such products be successfully commercialized. If Lilly does not exercise this option right, Lilly would be eligible for a low single-digit royalty from Transition on sales of products containing TT-601 should such products be successfully commercialized. 

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