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

p>- In order to more accurately reflect the Company's expanded business

strategy and core programs that encompass both therapeutics and branded

nutraceutical products, and following the approval by Neurochem's Board

of Directors, the name-change from Neurochem to BELLUS HEALTH(TM),

pending shareholder approval at the next annual meeting.

- Approval by Neurochem's Board of Directors for the creation of

subsidiaries for the purposes of carrying on the Company's

nutraceutical business, and as part of these new developments, the

nutraceutical business will be named OVOS NATURAL HEALTH(TM).

- An amendment under the Equity Line of Credit Facility, extending the

term 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 is making significant progress in the implementation of the strategy that aims to make homotaurine available to consumers. Our drive towards the commercialization of this brand under the leadership of Mr. Gary Schmid as CEO of our nutraceutical business is geared towards potentially selling homotaurine via the Internet as early as the second quarter of 2008 and made available at retail in Canada during the third quarter of 2008," said Dr. Francesco Bellini, Chairman, President and CEO of Neurochem. "With respect to our pharmaceutical activities, we are continuing to accelerate the development of our product candidates in the field of Diabetes and Alzheimer's disease a
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SOURCE NEUROCHEM INC.
Copyright©2008 PR Newswire.
All rights reserved

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