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Finance
Product-based biopharmaceutical company reports first quarter 2005 financials
December 6th, 2004
Transition Therapeutics Inc. (TTH), a product-based biopharmaceutical company, announced its financial results for the quarter ended September 30, 2004. During the quarter, Transition completed a licensing agreement with Novo Nordisk. Under the terms of the agreement, Novo Nordisk received exclusive worldwide rights to Transition's I.N.T. technology, except for I.N.T. for transplantation. In exchange, Novo Nordisk agreed to make upfront and milestone payments which, assuming all development milestones are achieved, will total U.S. $48 million, an equity investment in Transition of $6 million, commercial milestone payments and royalty payments on future net sales and to...
Source: Obesity & Diabetes Week (2004-12-06)
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