February 18, 2003

Neurochem receives disinterested shareholder approval for second investment by Picchio Pharma Inc.

- Neurochem, Inc. (TSX: NRM) - Announced today that the requisite majority of its disinterested shareholders approved the previously announced transaction by a subsidiary of Picchio Pharma Inc. for the acquisition of 1.2 million units of Neurochem at a cost of $6.79 per unit, for a total of $8.148 million. The units are comprised of one Neurochem common share and one warrant to purchase an additional common share anytime within a three-year period at a price of $7.81, a premium of 15% over the issue price. Depending on the exercise of warrants over the next three years, the total possible investment by the subsidiary of Picchio Pharma Inc. pursuant to this transaction could amount to $17.52 million. With the exercise of all warrants, and those of an earlier transaction announced in July, 2002, Picchio Pharma Inc. and associates would hold close to 33% of the common shares of Neurochem on a fully diluted basis. The proceeds of the transaction will be used for working capital purposes.

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 a product-driven, specialty pharmaceutical company which offers a new class of drug candidates to prevent and stop the progression of diseases for which no cure exists. The Company's strong and growing pipeline will meet unmet medical needs and is focused on disorders of the central nervous system and amyloid-related diseases. Neurochem's most advanced product candidate is Fibrillex™, in pivotal Phase II/III clinical development for the treatment of Secondary Amyloidosis, a fatal kidney disease. Two other product candidates in Phase II clinical development are Alzhemed™ for the treatment of Alzheimer's disease and Cerebril™ for Hemorrhagic Stroke due to Cerebral Amyloid Angiopathy. At the pre-clinical development stage, the Company has two potential products targeting Diabetes Type 2 and Epileptic Seizures induced by traumatic brain injury (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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