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August 24, 2000
Underwriters of Neurochem Inc. exercise over-allotment option for gross proceeds of
$36.8 Million.
Neurochem Inc (TSX : NRM), a biopharmaceutical company focused on the development of
therapeutic treatments for a number of important diseases, including Alzheimer's disease,
announced today that the Company's underwriters have exercised in full their 15%
over-allotment option in connection with the Company's Initial Public Offering of 3,878,787
Common Shares which closed on June 22, 2000 resulting in additional gross proceeds of
$4,800,000. Loewen, Ondaatje, McCutcheon Limited and Canaccord Capital Corporation, the
underwriters of the Offering, acquired an additional 581,818 Common Shares of Neurochem
at $8.25 per share.
The exercise of the over-allotment option brings total gross proceeds raised under the
offering to $36.8 million (CAN), which Neurochem believes to be the largest Initial Public
Offering by a Canadian biopharmaceutical company to date. Net proceeds of this offering
will be used to fund clinical trials and preclinical studies and for capital expenditures
and working capital.
Neurochem Inc. was established in 1993 and the diseases it targets are characterized by
the presence of toxic deposits of amyloid protein. Neurochem's core technology aims at
inhibiting the development and deposition of these toxic amyloid deposits, thereby
potentially providing for therapeutic interventions that prevent the onset or arrest the
progress of these major disorders, such as Alzheimer's Disease.
Neurochem is an industry leader in the development of a novel, proprietary series of
compounds that inhibit the formation, deposit and toxic effects of amyloid fibrils on
cells within the body. Neurochem's research team has been working with international
amyloid experts on the development of therapeutic cures to amyloid-related diseases,
including Alzheimer's disease, Secondary Amyloidosis , Diabetes Type II and Hemorrhagic
Stroke (due to Cerebral Amyloid Angiopathy). Neurochem has advanced three drug candidates to
clinical trials: Alzhemed™, for the treatment of Alzheimer's disease,
Fibrillex™, for Secondary Amyloidosis, and Cerebril™, for
Hemorrhagic Stroke. At present, the Company employs over 50 people and is located in
Saint-Laurent, Canada (www.neurochem.com).
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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