Transition Therapeutics and Elan to modify collaboration agreement
Transition Therapeutics Inc., a biopharmaceutical company, has announced that the company and Elan Corporation, plc have mutually agreed to modify their collaboration agreement for the development and commercialization of ELND005.
Under the terms of the modification, in lieu of a contractually required Phase III milestone payment, Transition will receive from Elan a payment of $9 million at the time of signing and will be eligible to receive a $11 million payment upon the commencement of the next ELND005 clinical trial.
Transition also will be eligible to receive up to an aggregate of $93 million in additional regulatory and commercial launch related milestone payments plus tiered royalties ranging from 8% to 15% based on net sales of ELND005 should the drug receive the necessary regulatory approvals for commercialization.
As the agreement is now a royalty arrangement, Transition will no longer fund the development or commercialization of ELND005 and will relinquish its 30% ownership of ELND005 to Elan.
Based on studies in preclinical models of Alzheimer’s disease, ELND005 is believed to inhibit the aggregation (clumping) of amyloid-beta proteins in the brain thereby neutralizing the toxic effects of these aggregates on nerve cell membranes (synapses). The toxic effects of amyloid-beta proteins include inhibition of nerve cell function and eventually death of nerve cells (neurons), resulting in memory loss and ultimately the dementia that is characteristic of Alzheimer’s disease (AD).
The safety and pharmacokinetics of ELND005 were evaluated in a total of 9 Phase I studies in 161 healthy volunteers, including healthy elderly subjects. ELND005 has also been evaluated in a completed Phase II study in mild to moderate Alzheimer’s patients and an open-label extension of this Phase II study is currently ongoing.
Under the terms of the modification, in lieu of a contractually required Phase III milestone payment, Transition will receive from Elan a payment of $9 million at the time of signing and will be eligible to receive a $11 million payment upon the commencement of the next ELND005 clinical trial.
We live in a world where they can’t cure Alzheimers but continue to prolong the disease bc that is what is profitable.
Don’t tell me that there are genius scientists who can give old men erections but there aren’t any who can figure out how to restore the regressing memory. It should be illegal for Hugh Heffner to get a hard on at his age for viewer’s discretion advised: the sight you are about to see will cause nauseau should you do so.
What did I tell you? That is one main reason why WE NEED MORE WOMEN SCIENTISTS. Somehow, the focus would be on conditions like how to cure dementia rather than how to get an old fossil with one foot in the grave to get it up. It scares me to even imagine how much of our tax dollars went to that project! Don’t forget the female robots created by lonely loser men. Remember Lisa the first woman robot??
She comes fully loaded, check it out:
http://www.asiancemagazine.com/2012/03/03/love-and-sex-with-robots-the-evolution-of-human-robot-relationships-
You are hilarious. Hugh Heffner is still getting action and Alzheimers is still not cured.