Transition Therapeutics commences underwritten public offering of common shares

Transition Therapeutics Inc. ("Transition" or the "Company") (NASDAQ: TTHI, TSX: TTH) announced today that it has commenced an underwritten public offering of its common shares. The Company expects to use net proceeds from the sale of the common shares for general corporate purposes, including expenditures related to the advancement of the Company's drug candidates through the various clinical trial phases.

Cowen and Company, LLC is the sole book-running manager and Canaccord Genuity Inc., H.C. Wainwright & Co., LLC, and LifeSci Capital LLC are the co-managers for the offering. The common shares are being offered under the Company's shelf registration statement previously filed with the Securities and Exchange Commission and effective on July 19, 2013.