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news.Transition Therapeutics has received $7.5 million representing the second half of the $15 million upfront payment under the company's global collaboration agreement with a subsidiary of Elan Corporation, for its Alzheimer's disease drug candidate.
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The drug candidate ELND-005/AZD-103 has undergone Phase I clinical trials and appears to be safe and well tolerated at all doses and dosing regimes examined in approximately 110 subjects. The compound was also shown to be orally bioavailable, cross the blood brain barrier, and achieve levels in the human brain and CSF that were shown to be effective in animal models for Alzheimer’s disease.
Transition and its collaborator Elan remain on track to commence a Phase II clinical trial by the end of 2007 or early 2008, the company said.