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PROSPECTUS SUMMARY (From F-10 8/20/03) The following is a summary only and is qualified in its entirety by, and should be read in conjunction with, the more detailed information and financial statements appearing elsewhere in this prospectus. As used in this prospectus, unless the context otherwise requires or indicates, the terms "we", "us", "our", "Neurochem" or the "Company" mean or refer to Neurochem and, unless the context otherwise requires, its subsidiaries and its Affiliates (as such term is defined in this prospectus). The holdings and purchases of Common Shares by Picchio Pharma through P.P. Luxco Holdings II S.A.R.L. are referred to in and for the purposes of this prospectus as being holdings and purchases of Picchio Pharma. In this prospectus, unless otherwise indicated, all dollar amounts and references to "$" are to Canadian dollars and US$ refers to United States dollars. Unless otherwise indicated, the information contained in this prospectus does not give effect to the exercise of the Over-Allotment Option. OUR BUSINESS We are a biopharmaceutical company focused on the development and commercialization of innovative therapeutics for neurological disorders. Our strategy is to in-license early-stage products and to focus our resources on the management of clinical development and the commercialization of novel products. We have three orally-administered product candidates in clinical trials and one product candidate in pre-clinical development, each targeting disorders for which there are currently no known cures. Because our drugs target what are known or believed to be the causes of disorders and potentially inhibit their progression, as opposed to merely treating the symptoms of disorders, they are known as "disease modifiers". Our product candidates consist of a new class of small molecules that are designed to bind to amyloid proteins. There are at least 21 different proteins recognized as, or believed to be, causative agents of severe amyloid-related disorders. All of these proteins can change structure by binding to components of proteins known as "GAGs", generate strands of amyloid known as amyloid fibrils and accumulate as amyloid deposits in various organs such as the brain and kidneys. When deposits of a certain type of amyloid protein appear in the brain, they may cause Alzheimer's Disease or certain types of strokes and when deposits of a different type of amyloid protein appear in the kidneys, they can cause systemic disorders. Our product candidates are designed to inhibit both the formation of amyloid fibrils and the resulting toxic deposits by mimicking GAGs which promote amyloid fibril formation. We call these molecules "GAG mimetics". Fibrillex(TM), Alzhemed(TM) and Cerebril(TM), our product candidates in clinical trials, are based on our GAG mimetics technology. Our focus on neurology has also led to the development of dual-action compounds to treat epileptic seizures induced by Traumatic Brain Injury ("TBI"). These compounds are designed to protect the brain from neuronal damage often associated with TBI. Fibrillex(TM), our most advanced product candidate, is in a Phase II/III clinical trial. Fibrillex(TM) is designed to treat Amyloid A Amyloidosis ("AA Amyloidosis"), a systemic disorder resulting in significant illness, organ failure (particularly of the kidney, spleen and liver), and ultimately death. Alzhemed(TM), our next most advanced product candidate, is our drug for the treatment of Alzheimer's Disease, a degenerative neurological disorder that progressively impairs a person's cognitive functions and gradually destroys the brain. We have completed a Phase II clinical trial for Alzhemed(TM) and are currently designing Phase III efficacy trials. Cerebril(TM), our third product candidate, is designed to treat Hemorrhagic Stroke due to Cerebral Amyloid Angiopathy ("CAA"). Cerebril(TM) is currently in a Phase II clinical trial. Hemorrhagic Stroke due to CAA is a fatal neurological disorder characterized by recurrent brain hemorrhage. We are also conducting pre-clinical testing on a compound, NC-1461, for the treatment of epileptic seizures induced by TBI. | ||||||||||||||
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