June 19, 2002

Dr. Francesco Bellini to Join Board as Chairman.
Neurochem announces multi-million dollar investment by Picchio Pharma Inc.

Neurochem Inc. (TSX : NRM) announced today that Picchio Pharma Inc. has agreed to make an initial investment in Neurochem of $7 million with the purchase of 2.8 million units of Neurochem at a cost of $2.50 per unit, subject to customary closing conditions. The units are comprised of one Neurochem common share and one warrant exercisable anytime within a three-year period with a 25% premium over the issue price, for a total possible investment of $15.75 million. Following the transaction and the exercise of all warrants, Picchio Pharma Inc. would hold close to 24% of the common shares of Neurochem. The proceeds of the investment will be used for working capital purposes. Dr. Francesco Bellini, Chairman of Picchio Pharma, has agreed to join the Board of Neurochem as Chairman.

"This is an important corporate investment for Picchio Pharma," said Dr. Francesco Bellini, Chairman of Picchio Pharma Inc. "We believe that Neurochem is a company with enormous potential. It has a very good product pipeline with products at different stages of development, which includes Fibrillex™, a drug candidate with Orphan status in the US and Europe, in a pivotal Phase II/III trial, for the treatment of Secondary Amyloidosis. With the strong management team at the company and with full ownership of its therapeutic rights, Neurochem has the potential to become a leading biopharmaceutical company," he added.

"We are pleased that Picchio Pharma Inc. has agreed to invest substantially in Neurochem. The investment confirms the quality of the company's technology and its business potential," said Dr. Louis R. Lamontagne, President and CEO of Neurochem. "We would like to thank Mr. Michael Du Cros, our past Chairman of the Board, for his valued counsel over the past eight years and for his excellent guidance in steering the company through an important stage of development," added Dr. Lamontagne. "We are very pleased that Dr. Bellini has agreed to become Chairman of Neurochem's board. As a visionary in the pharmaceutical industry, Dr. Bellini will bring strategic counsel to position Neurochem for long-term value creation."

About Picchio Pharma Inc.

Picchio Pharma Inc. is a joint venture company established between Dr. Francesco Bellini and Power Technology Investment Corporation, a subsidiary of Power Corporation of Canada. Picchio Pharma's objective is to become a leading Canadian biopharmaceutical company dedicated to acquiring, developing and commercializing new therapeutic products and technologies.

About Neurochem

Neurochem is an industry leader in the development of therapeutic drugs and diagnostic tools for central nervous system and amyloid-related diseases associated with aging. The Company has built a strong product pipeline by developing a novel, proprietary series of compounds that inhibit the formation, deposition and toxic effects of amyloid fibrils within the body. Neurochem's therapeutic programs target Alzheimer's Disease, Hemorrhagic Stroke (due to Cerebral Amyloid Angiopathy), Secondary Amyloidosis, Diabetes Type II and Epilepsy. Neurochem is using a multi-pronged approach towards the development of pharmaceuticals for Alzheimer's Disease, including glycosaminoglycans (GAGs) mimetics, a vaccine, an anti-inflammatory and neuroprotective approaches as well as the development, in collaboration with Amersham Health, of a diagnostic imaging tool. The Company has advanced to date three drug candidates to clinical trials: Alzhemed™, for the treatment of Alzheimer's Disease, Fibrillex™, for the orphan disease Secondary Amyloidosis, and Cerebril™, for Hemorrhagic Stroke. At present, the Company employs over 77 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

Our site is best viewed with IE4+ at a resolution of 1024×768.
All contents copyright © 1998-2007 Neurochem Inc.
Terms, Conditions and Legal Notice.