October 15, 2001

Neurochem receives $1.4 Million grant from FDA and OMP designation in Europe for Fibrillex™.

Orphan Drug Designation already granted in U.S.

Neurochem Inc. (TSX : NRM) announced today that it received a CDN$1.4 million grant from the Food and Drug Administration (FDA) in the U.S. for a pivotal Phase II/III study of Fibrillex™, which is currently underway. The Company also received Orphan Medicinal Product (OMP) designation in Europe for its lead drug candidate, Fibrillex™, for the treatment of Secondary Amyloidosis.

The OMP designation in Europe typically allows for a 10-year market exclusivity, in the 15-Member States of the European Community once a drug goes to market. Fibrillex™ has already been granted Orphan Drug Designation (ODD) from the FDA, entitling the Company to 7 years of market exclusivity in the U.S. upon commercialization.

"These are two very exciting announcements for the development of Fibrillex™ in Europe and in the U.S.,™ said Dr. Louis R. Lamontagne, President and CEO of Neurochem. "Our application to the FDA for the development of Fibrillex™ was reviewed and approved by a panel of outside experts and funded on a priority basis. The CDN$1.4 million grant will allow us to build on our existing progress in patient recruitment and push forward with our ongoing clinical trial program,™ he added. ™The granting of the Orphan Medicinal Product designation for Fibrillex™ in Europe is a very important milestone for the Company. The OMP designation suggests that Fibrillex™ will benefit from a dedicated review process for the development of the drug, as we have had in the U.S.

Market exclusivity for Fibrillex™ ensures that no other equivalent drug can be sold for treating Secondary Amyloidosis, for this 10-year period in the European union. The OMP designation for Fibrillex™ could provide for protocol assistance with the regulatory process, direct access to the European Commission's "centralized" procedure, eligibility for fee reduction for all fees payable under Community rules and possible access to research assistance to defray the costs of clinical testing. These provisions are intended to stimulate the research, development and availability of products that prevent or treat life-threatening or chronically debilitating rare diseases that require treatment.

Fibrillex™ is currently in a pivotal Phase II/III clinical trial. The drug candidate has undergone extensive toxicity and pharmacokinetic investigations and exhibited a good safety and pharmacokinetic profile in the four human clinical Phase I studies which were conducted last year. The results were presented at the IXth International Symposium on Amyloidoisis in Budapest, Hungary in July 2001.

The pivotal Phase II/III clinical trial has been designed as a multicentered, randomized, multinational, double-blind, placebo-controlled, and parallel-design trial. It is being conducted in 14 investigative sites in the United States, Europe and Israel.

"The study will evaluate the efficacy and safety of the investigational new drug candidate, Fibrillex™, in patients suffering from Secondary Amyloidosis," said Dr. Denis Garceau, Vice-President Drug Development at Neurochem. "A total of 150 patients will be randomly distributed into two arms of equal size (Fibrillex™; placebo) and treated over a period of 24 months. With no other amyloid-specific drugs on the market for the treatment of Secondary Amyloidosis, Fibrillex™ could become a welcome treatment for the hundreds of thousands of people suffering from the disease."

About Secondary Amyloidosis

Secondary Amyloidosis is a systemic and fatal form of amyloidosis. The disease is caused by the deposition of amyloid A (AA) protein mainly in the kidneys, the spleen, the liver and the adrenals causing severe dysfunction. It is associated with chronic inflammatory conditions such as rheumatoid arthritis, chronic infections and with Familial Mediterranean Fever. The estimated worldwide patient population with secondary amyloidosis is approximately half a million, with no amyloid-specific treatment available yet.

Clinical Trial Recruitment

Neurochem has put in place a multilingual recruitment and information program for providers and patients touched by Secondary Amyloidosis. For further information regarding the trial or to obtain brochures, you may call 1-866-234 AMYL (2695) in North America or visit Neurochem on-line at www.neurochem.com.

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:
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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