ELAN CORPORATION PLC AND TRANSITION THERAPEUTICS INC. ANNOUNCEGLOBAL COLLABORATION TO DEVELOP AND COMMERCIALIZE ALZHEIMER'S DISEASE DRUG AZD-103

Elan Corporation, plc ("Elan") and Transition Therapeutics Inc. ("Transition"), today announced an exclusive, worldwide collaboration agreement for the joint development and commercialization of a novel therapeutic agent, AZD-103, for the treatment of Alzheimer's disease. AZD-103 is a small molecule compound in Phase I clinical development that acts by breaking down and preventing the assembly of beta amlyoid fibrils, a hallmark pathology of Alzheimer's disease. BioSpace (http://www.biospace.com/news_story.aspx?StoryID=31296&full=1)