Transition Therapeutics in-licenses muscle drug candidate from Lilly

The Canadian subsidiary of Ireland-headquartered Transition Therapeutics (Nasdaq: TTHL) has in-licensed exclusive worldwide rights to TT701, a novel small-molecule drug candidate from US pharma major Eli Lilly (NYSE: LLY).

TT701 is a selective androgen receptor modulator that has been shown in a Phase II study to significantly increase lean body mass and a measurement of muscle strength in male subjects. This completed 12-week, Phase II study of 350 subjects also demonstrated additional beneficial effects, including significant fat mass reduction with no significant change in prostate specific antigen (PSA) levels. Transition is evaluating multiple development paths for TT701, including as a new therapeutic option for patients with androgen deficiency. The company is engaged with potential collaborators to rapidly commence a Phase II clinical study.

Potential $100 million deal