Transition Therapeutics licenses androgen receptor modulator from Lilly

• Transition Therapeutics (TTHI +0.7%) secures exclusive worldwide rights to TT701, a small molecule drug candidate from Eli Lilly (LLY +0.1%). TT701 is a selective androgen receptor modulator that demonstrated a positive effect on lean body mass and muscle strength in a Phase 2 study. The completed 12-week, 350-subject trial also demonstrated significant fat mass reduction with no major change in prostate specific antigen (PSA) levels.
• Transition is assessing multiple development paths for TT701, including androgen deficiency.
• Under the terms of the agreement, Lilly will receive contingent upfront consideration of $1M, up to $100M in commercial milestones and mid-single digit sales-based royalties.