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Neurochem reports results for fourth quarter and fiscal year 2007 and important advances on corporate objectives
Date:2/20/2008

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On February 20, 2008, the Board of Directors approved the following transactions:

(a) The issuance of 2,445,000 options to purchase common shares to be

issued under the stock option plan of the Company. The option price

per share will be determined based on the weighted average trading

price of common shares for the five days preceding the date of grant

during which the common shares were traded on the Toronto Stock

Exchange.

(b) The Company renewed the management services agreement entered into

with Picchio International Inc. to November 30, 2008.

(c) The Company entered into an amendment with respect to the

ELOC facility. The term of the ELOC facility has been extended to

February 2010. The minimum draw-down obligation by the Company has

been reduced to $15,000,000 over the term. The maximum amount of each

monthly draw-down is limited to the lower of $6,000,000 or 12.5% of

the volume-weighted price calculation of the common shares at the

time of draw-down. The common shares will be issued at a discount of

4.0% to market price if the volume-weighted average price (VWAP)

per share is $6 or higher, and 7% if the VWAP per share is lower than

$6 at the time of draw-down

Neurochem Inc.

Consolidated Financial Information(1)

(in thousands of US dollars, except per share data)

Three-month

period ended Year ended

December 31 December 31

-------------------------------------------------------------------------

Consolidated Statements

of Operations 2007 2006 2007 2006

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SOURCE NEUROCHEM INC.
Copyright©2008 PR Newswire.
All rights reserved

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