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June 22, 2000
Neurochem Inc. closes $32 Million Initial Public Offering
Neurochem Inc (TSX : NRM) announced today the closing of its initial public offering
consisting of a new issue of 3,878,787 Common Shares at a price of $8.25 per Share for
a total offering of $32,000,000. The offering was underwritten by Loewen, Ondaatje,
McCutcheon Limited and Canaccord Capital Corporation.
The net proceeds to be received by the Company from this Offering will be used to fund
clinical trials on Neurochem's lead product candidates, to further complete lead compound
optimization and initiate pre-clinical toxicology and pharmacology studies, to purchase
additional laboratory and analytical equipment and for general corporate purposes.
Neurochem Inc. has granted the underwriters an Over-Allotment Option to purchase up to an
additional 581,818 Common Shares at the offering price during the period ending 60 days
from the closing of the offering to cover over-allotments and for market stabilization purposes.
If the Over-Allotment Option is exercised in full, total gross proceeds of the Offering will
be $36,800,000.
Current lead product candidates advanced by Neurochem include Alzhemed™,
for Alzheimer's Disease, Cerebril™, for Hemorrhagic Stroke (due to Cerebral
Amyloid Angiopathy), and Fibrillex™, for Secondary Amyloidosis.
Fibrillex™ has been granted Orphan Drug Designation status by the Food and
Drug Administration (FDA) in the United States.
Neurochem was established in 1993 and is an industry leader in the development of a novel,
proprietary series of compounds that prevent and inhibit the formation, the deposition and
the associated toxic effects of amyloid fibrils in different organs of the body. Neurochem's
research team has been working with international amyloid experts on the development of
therapeutic cures for several diseases and currently has a number of compounds advancing to
clinical trials including two for Phase II trials and one for a pivotal Phase II/III trial
as well as other lead compounds at a preclinical stage. Neurochem is located in
Laval (Québec), Canada.
For further Information, please contact:
Dr. Lise Hébert
Vice President, Corporate Communications
lhebert@neurochem.com
275 Armand-Frappier
Laval (Quebec)
H7V 4A7
Tel: (450) 680-4500
Fax: (450) 680-4501
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