TRANSITION THERAPEUTICS INC. T.TTH

RE: Presentation today..... Cowen Comments

[deninsask]

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The presentation at Morgan Stanley more than likely would have been the exact same presentation and Slide Show as Dr. Cruz presented at The Cowen & Co. HCC a few weeks earlier. Thats probably why they chose to not web-cast the Morgan Stanley. Listen to that one. Heres the LINK........https://webcastingplayer.corporate-ir.net/player/PlayerHost.aspx?EventId=1783649&StreamId=1073445&TIK={8312DD05-47EC-4F7D-B405-12D06C15FAA8}&RGS=1

Any difference would have been during the Q&A segment (if there was one @ M.S.)


KEY Points.....


A) TT223 (Gastrin) Stand Alone has Pre-Clinical Data that is Equal and in some cases Better than TT223+EGF (E1-INT ) and the other Combos.

B) TT223 has shown to be Efficacious by itself in Type2 without the benefit of any other Analogue such as GLP-1 or EGF or Prolactin or DPP-IV Inhibitors.

C) The Protocol is ready for submission to the FDA for Phasell TT223 SA in Type2 and will be submitted as soon as Eli Lilly approves it.

D) The Burn Rate will stay within guidance even though multiple Clinical Programs will be moving into development.

E) The treatment period for Phasell TT223 SA will be 3 Months and not 1 Month like the TT223+EGF Trial now that they have the required Studies to support the longer term Trial. The Follow up period will remain at 6 months. They "will Obviously be looking for Efficacy"

F) TT223 SA will Reverse the Exhaustiuon of Beta Cells in Type2 Diabetes. Theres lots of Data that was collected in the collaboration with Novo Nordisk that shows this. In Type 1 Diabetes a combination of TT223 plus GLP-1 will be required.

G) The Lilly Agreement consists of a series of 3 different Product Developments with each one having it's own series of Milestones and Royalties Rates.

-----1) TT223 Stand Alone
-----2) TT223 + GLP-1 Analogue
-----3) Assuming TT223 + DPP4 Inhibitor because Dr. Cruz didn't mention the third one.

H) The doses chosen for Phasell AZD-103 starts at 250mg BID which is higher than the dosage needed to work in animals . The other Dosing Arms are 1000mg.BID and 2000mg BID. (that makes highest dose over 8 times higher than required to show efficacy in Pre-Clinicals)

I) AZD-103 not only prevents the Amyloid-beta aggregates from forming but it can break down the existing aggregates.

J) Signing up of Sites for the Phasell AZD-103 in mild to moderate AD is escalating exponentially and most Sites should be in some form of negotiation in terms of agreements and getting patients started. So March, April, May will be key months for them to Initiate most of those Sites.

K) The intention to Initiate a Phasell with AZD-103/ELND005 in Pre-Alzheimers is progressing and a Group of Opinion Leaders has been assembled to help inform ELAN & Transition as to the BEST TESTS and SCREENING METHODS for making the Patient ENROLLMENT DECISIONS. Dr. Cruz believes the Screening Process will be KEY to a successful Phasell in Pre-Alzheimers so they are approaching this Phasell Trials Enrollment Procedures with great caution.


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