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news.Transition Therapeutics has amended its agreement with Elan Corporation for the development and commercialisation of lead alzheimer's disease drug candidate, ELND005.
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According to the studies in preclinical models of alzheimer’s disease, ELND005 is believed to inhibit the aggregation (clumping) of amyloid-beta proteins in the brain thereby neutralising the toxic effects of these aggregates on nerve cell membranes (synapses).
Elan and Transition continue to work together exploring all strategic, operational, and global options for the ELND005 asset.
Further, the companies have agreed that the timeframe for Transition to elect to participate in post-Phase II development of ELND-005 will be extended until Transition receives notice from Elan to make such election.
At any time prior to the expiry of this election, Transition may elect to maintain its 30% cost sharing percentage, increase such percentage up to 40% or decide not to continue cost sharing.