In September 2006, Elan and Transition entered into an exclusive, worldwide collaboration agreement for the joint development and commercialization of Transition’s novel Alzheimer’s disease drug candidate ELND005.

With its extensive experience and specialized knowledge of neuropathological disorders such as Alzheimer’s disease, Elan represents the most appropriate development partner for this clinical program.

In March 2010, Transition has acquired the rights to a series of preclinical compounds from Lilly in the area of diabetes.

Under the licensing and collaboration agreement, Transition receives exclusive worldwide rights to develop and potentially commercialize a class of compounds that, in preclinical diabetes models showed potential to provide glycemic control and other beneficial effects including weight loss.