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