Transition Therapeutics, Novo Nordisk amend diabetes license

By Elaine Rigoli

Tampa, Fla., July 17 - Transition Therapeutics, Inc. and Novo Nordisk A/S have signed an amendment to their license agreement on E1-I.N.T and GLP1-I.N.T. to restate the rights and responsibilities of the parties.

Novo Nordisk will retain exclusive, worldwide rights to the E1-I.N.T. program and Transition will regain exclusive ownership and rights to all other I.N.T. programs, including GLP1-I.N.T.

Novo Nordisk paid $500,000 to Transition, and Transition will receive from Novo Nordisk $500,000 in research and development funding in 2006, according to a news release.

The financial terms of the amended agreement remain the same, where Transition will receive future E1-I.N.T. developmental milestone payments potentially totalling $46 million plus commercial milestones and royalties on sales of E1-I.N.T. products.

Transition currently advances the clinical development of E1-I.N.T. for type 1 and type 2 diabetes.

Upon the delivery of final data from the ongoing clinical trials, Novo Nordisk will decide whether to finalize development and commercialization of E1-I.N.T.

Following such a decision, Transition will be entitled to additional milestone payments and reimbursement of all E1-I.N.T. clinical-development costs since August 2004, the release said.

Transition said it is moving forward with a clinical development plan to rapidly advance GLP1-I.N.T. into diabetes patients and noted that a growing body of evidence supports regenerative therapy as a major focus for diabetes treatment.

Transition is now focused on the preparation of the necessary preclinical studies and phase 1 program to move into a phase 2 study in type 1 and 2 diabetes using a G1 and exendin-4 combination.

Transition said it will be seeking partnerships to assist in the funding of these clinical trials and the commercialization of the GLP1-I.N.T. product.

Transition is a product-focused biopharmaceutical company located in Toronto.

Novo Nordisk is a health care products company located in Princeton, N.J.

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