Neurotech refocuses on ophthalmic technologies
Evry, France, August 23, 2002 - Neurotech, already specialized in the treatment of diseases of the retina, announces today its decision to concentrate exclusively on ophthalmic technologies.

The company's decision, taken in a difficult economic climate, is based on the promising technological developments achieved by Neurotech's US teams.

The main obstacle to effective treatment of retinal disease is the difficulty of delivering drugs across the blood-retina barrier. ECT (Encapsulated Cell Technology) developed principally by the company9s American subsidiary Neurotech USA Inc. allows the penetration of this barrier, making Neurotech a key player in this major medical market.

As part of the refocusing, Neurotech has halted research and development activities carried out at its Evry site in France since 1997. This decision affects only early-stage research programs in the related fields of neuroscience and cell therapy. Two research projects at Evry succeeded in creating potential products, but as of today and in the light of current knowledge, they cannot be considered to offer a definite development opportunity.

"At a difficult economic time, Neurotech is refocusing on its most advanced and promising activities," said Bernard Davitian, Executive Vice President & Chief Operating Officer of Neurotech. "Neurotech's Encapsulated Cell Technology (ECT), developed by our US subsidiary, is the first to offer delivery of proteins in the eye over the long term, and opens up a whole range of new possibilities in ophthalmology."

Neurotech is supported in its scientific and business strategies by world experts in ophthalmology and by a group of international investors. Among the investors, Merlin Biosciences, Apax Partners, GIMV and CDC-Innovation have representatives on the company9s Board of Directors.

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Neurotech
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