Transition Therapeutics Inc. (Transition) is a product-focused biopharmaceutical company, developing therapeutics for disease indications with large markets. The Company’s lead products are ELND005 (AZD-103) for the treatment of Alzheimer’s disease, TT-223 for the treatment of diabetes, and TT-301 and TT-302, which can have a therapeutic effect on CNS diseases, including Alzheimer’s disease, traumatic brain injury (TBI), multiple sclerosis (MS) and others. Transition also has a pipeline of preclinical drug candidates acquired externally or developed internally using its drug discovery engine. The Corporation has one wholly owned material subsidiary, Waratah Pharmaceuticals Inc. (Waratah). On August 18, 2008, it acquired certain assets and the rights to three drug discovery projects from Forbes Medi-Tech (Research) Inc., a wholly owned subsidiary of Forbes Medi-Tech Inc. (Forbes).