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TransTech Pharma, Inc. Announces Achievement of a Milestone By Novo Nordisk

Posted on: Thursday, 22 September 2005, 09:01 CDT

TransTech Pharma, Inc. (TransTech) today announced it had received a milestone payment from its collaboration partner, Novo Nordisk, as a result of progress made with a drug candidate resulting from their collaboration. This milestone was in addition to another development milestone that TransTech previously reported in October 2004.

The compound was discovered during a strategic research collaboration between the two companies utilizing TransTech's proprietary small molecule discovery engine TTP Translational Technology(R). TransTech could receive additional milestone payments as well as royalties on sales if the program continues through commercialization.

Adnan Mjalli, Ph.D., Founder, President and Chief Executive Officer of TransTech, said: "We are very excited to have achieved this important milestone with Novo Nordisk, our first strategic partner, addressing a disease with a significant unmet medical need. Throughout our collaboration we have been impressed by the quality of Novo Nordisk's therapeutic approaches and their drug discovery and development expertise. This milestone demonstrates our ability to use TTP Translational Technology(R) to discover and deliver new drug candidates for both our collaborative partners as well as our own internal programs. We have successfully employed our technology to discover and advance two of our own clinical drug candidates TTP889, for the treatment of various thrombotic indications, and TTP488, for the treatment of Alzheimer's disease, in addition to several preclinical candidates in other therapeutic areas."

TransTech Pharma is a privately held clinical-stage pharmaceutical company focused on the discovery, development, and commercialization of human therapeutics to fill unmet medical needs. The Company's high-throughput drug discovery platform, Translational Technology(R), translates the functional modulation of human proteins into safe and effective medicines. TransTech has a pipeline of small molecule clinical and pre-clinical drug candidates for the treatment of a wide range of human diseases including cardiovascular disorders, central nervous system disorders, type I/II diabetes, obesity, and oncology. In addition to its internal drug discovery programs, Trans Tech is also involved in four research collaborations with Novo Nordisk A/S, Cephalon, Inc., Merck & Co. Inc. and SIGA Technologies, Inc. For further company information, visit http://www.ttpharma.com.

Novo Nordisk is a focused healthcare company and the world leader in diabetes care. In addition, Novo Nordisk has a leading position within areas such as coagulation disorders, growth disorders and hormone replacement therapy. Novo Nordisk manufactures and markets pharmaceutical products and services that make a significant difference to patients, the medical profession and society. With headquarters in Denmark, Novo Nordisk employs approximately 20,000 people in 69 countries and markets its products in 179 countries. Novo Nordisk's B shares are listed on the stock exchanges in Copenhagen and London. Its ADSs are listed on the New York Stock Exchange under the symbol 'NVO'. For further company information visit www.novonordisk.com.

Source: Business Wire

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