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October 12, 2001 Neurochem Inc. regains full ownership rights on drug molecules for Alzheimer's disease
Neurochem Inc. (TSX : NRM) announces an agreement with H.Lundbeck A/S ("Lundbeck")
pursuant to which Neurochem will regain the full ownership and control of its anti-amyloid
drug molecules program for Alzheimer's Disease at no cost to Neurochem. Neurochem intends to
accelerate the clinical development timelines for its lead drug candidate Alzhemed™ both
in Canada and the United States. Neurochem plans to initiate a Phase II clinical trial in
North America in the second half of fiscal 2002. About Neurochem
Neurochem is an industry leader in the development of products for central nervous system
and amyloid-related diseases associated with aging. The Company has developed a novel,
proprietary series of compounds that inhibit the formation, deposition and toxic effects
of amyloid fibrils within the body. Neurochem's research and clinical teams are best known
for their development of therapeutic and diagnostic drug candidates for 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 70 people and is located in Saint-Laurent, Canada
(www.neurochem.com).
All of the statements contained in this news release, other than statements of fact which
are independently verifiable at the date hereof, are forward-looking statements. Such
statements, based as they are on the current expectations of management, inherently involve
numerous risks and uncertainties, known and unknown. Some examples of known risks are: the
impact of general economic conditions, general conditions in the pharmaceutical industry, changes
in the regulatory environment in the jurisdictions in which Neurochem does business, stock
market volatility, fluctuations in costs, and changes to the competitive environment due to
consolidation or otherwise. Consequently, actual future results may differ materially from
the anticipated results expressed in the forward-looking statements.
For further Information, please contact: |
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