Transition Therapeutics Acquires All Remaining Shares of NeuroMedix Inc.

    TORONTO, June 1 /CNW/ - Transition Therapeutics Inc. ("Transition") (TSX:
TTH) announced today that Transition has acquired all of the remaining
outstanding common shares of NeuroMedix Inc. ("NeuroMedix") pursuant to the
compulsory acquisition provisions of the Business Corporations Act (Ontario).
Transition now beneficially owns 100% of the common shares of NeuroMedix.
    NeuroMedix's common shares were delisted from the Toronto Venture Stock
Exchange as of the close of the market on May 15, 2007. NeuroMedix has applied
to securities regulators to cease to be a reporting issuer under Canadian
securities laws.

    About Transition

    Transition is a biopharmaceutical company, developing novel therapeutics
for disease indications with large markets. Transition's lead products include
AZD-103/ELND005 for the treatment of Alzheimer's disease and regenerative
therapies E1-I.N.T.(TM) and GLP1-I.N.T.(TM) for the treatment of diabetes.
Transition has an emerging pipeline of preclinical drug candidates developed
using its proprietary drug discovery engine. Transition's shares are listed on
the Toronto Stock Exchange under the symbol "TTH". For additional information
about the company, please visit

    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considered accurate only as of the date of the release and may be superseded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 or otherwise. Press releases may contain forward-looking
statements based on the expectations of our management as of the date of the
release. Actual results may materially differ based on many factors, including
those described in the press releases.

    %SEDAR: 00015806E

For further information:

For further information: on Transition or NeuroMedix, visit or contact Dr. Tony Cruz, Chief Executive
Officer, Transition Therapeutics Inc, Phone: (416) 260-7770, x.223,; Mr. Elie Farah, CFO and VP Corporate
Development, Transition Therapeutics Inc., Phone: (416) 260-7770, x.203,

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Transition Therapeutics Inc.

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