Transition Therapeutics Announces Initiation of a Phase Ib Clinical Study of TT-223 in combination with a GLP-1 analogue in Patients with Type 2 Diabetes

    TORONTO, March 23 /CNW/ - Transition Therapeutics Inc. ("Transition" or
the "Company") (NASDAQ:TTHI, TSX:TTH) announced today that the first patient
has been dosed in a clinical study of gastrin analogue TT-223 in combination
with a proprietary Lilly GLP-1 analogue, in patients with type 2 diabetes. The
study is a randomized, double-blind, placebo-controlled study in approximately
140 patients to evaluate the safety, tolerability and efficacy of daily TT-223
treatments in combination with weekly administrations of GLP-1 analogue, for a
combination treatment period of 4 weeks with a 5-month follow-up.
    For information on enrollment, patients or caregivers can visit the
website www.clinicaltrials.gov under study No. NCT00853151About Gastrin-Based Therapies
    -----------------------------Transition and Eli Lilly and Company (NYSE:LLY) have entered into a
licensing and collaboration agreement granting Lilly exclusive worldwide
rights to develop and commercialize gastrin based therapies, including the
lead compound TT-223. Gastrin based therapies are an emerging class of
potential disease-modifying therapies for patients with diabetes, and have
been shown to provide sustained improvement in glycemic control in preclinical
models and early clinical studies. Sustained improvement in glycemic control
is a key goal for patients with diabetes in order to alleviate the symptoms of
hyperglycemia and to prevent diabetic complications, and improving their
overall quality of life.About Transition
    ----------------Transition is a biopharmaceutical company, developing novel therapeutics
for disease indications with large markets. Transition's lead products include
ELND005 (AZD-103) for the treatment of Alzheimer's disease and TT-223 for the
treatment of diabetes. Transition has an emerging pipeline of preclinical drug
candidates acquired externally and developed internally using its proprietary
drug discovery engine. Transition's shares are listed on the NASDAQ under the
symbol "TTHI" and the Toronto Stock Exchange under the symbol "TTH". For
additional information about the Company, please visit
www.transitiontherapeutics.com.

    Notice to Readers: Information contained in our press releases should be
considered accurate only as of the date of the release and may be superseded
by more recent information we have disclosed in later press releases, filings
with the OSC, SEC or otherwise. Except for historical information, this press
release may contain forward-looking statements, relating to expectations,
plans or prospects for Transition, including conducting clinical trials. These
statements are based upon the current expectations and beliefs of Transition's
management and are subject to certain risks and uncertainties that could cause
actual results to differ materially from those described in the
forward-looking statements. These risks and uncertainties include factors
beyond Transition's control and the risk factors and other cautionary
statements discussed in Transition's quarterly and annual filings with the
Canadian commissions.

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For further information: on Transition, visit
www.transitiontherapeutics.com or contact: Dr. Tony Cruz, Chief Executive
Officer, Transition Therapeutics Inc., Phone: [phone], x.223,
[e-mail]; Elie Farah, President & Chief Financial
Officer, Transition Therapeutics Inc., Phone: [phone], x.203,
[e-mail]