Eli Lilly and Co. and Transition Therapeutics, Inc. have entered into a licensing and collaboration agreement granting Lilly exclusive worldwide rights to develop and commercialize Transition's gastrin-based therapies, including the lead compound TT-223, which is currently in early Phase II development. Gastrin-based therapies are a new class of potential disease-modifying therapies for patients with diabetes, and have shown sustained improvement in glycemic control in early clinical studies. Glycemic control is a key goal in order to alleviate the symptoms of hyperglycemia and to prevent diabetic complications.
   
Under the terms of the agreement, Transition will receive a $7 million upfront payment, and may also receive as much as $130 million in potential development and sales milestones, as well as royalties on sales. Both companies will participate in the planned Phase II trial with TT-223 in type 2 diabetes. Lilly will then be responsible for further development and the commercialization of all gastrin-based compounds worldwide.
   
"This agreement represents an exciting new direction for Lilly's diabetes care research," said David Moller, M.D., Lilly, vice president of endocrine and cardiovascular research and clinical investigation. "We plan to leverage Transition's experience in gastrin based therapies with our own internal expertise, including Lilly's strong biotechnology discovery platform, to continue our mission to develop innovative, beneficial and cost-effective treatments for patients with diabetes."

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