Press Release

Neurotech announces Senior Management changes

Paris, April 26, 2002 ­ Neurotech S.A., specialist in the discovery, development and commercialization of retinal and other eye therapies, announces today the appointment of Bernard Chauvin, former President and Chief Executive Officer of Groupe Chauvin, a leading ophthalmic company, as Chairman of the Board and interim Chief Executive Officer. Furthermore, Neurotech SA announces the promotion of Bernard Davitian, former Chief Financial Officer, as Executive Vice President and Chief Operating Officer. These decisions result from the resignation of Tom Shepherd, who has decided to go back to Scotland for family reasons.

Commenting on his appointment, Bernard Chauvin said: "I am very pleased to join Neurotech, which represents for me, after 20 years of experience in ophthalmology, one of the most exciting innovative companies in the field".

Tom Shepherd said: "I am very sad to be leaving Neurotech at this time for personal reasons. I am very glad however that we have in the organization Bernard Chauvin and Bernard Davitian who can take over my responsibilities and ensure strong management continuity".

About Neurotech:
Neurotech S.A. is a French based biotechnology company developing cell therapy and protein delivery products in the eye. Neurotech's Encapsulated Cell Technology (ECT) allows, for the first time, the long term administration of protein drugs in the eye and CNS. In addition to the ECT, Neurotech has a portfolio of cell therapy products in development to treat eye and CNS disease. Neurotech has R&D operations in France and the United States and is supported by an international group of investors including: Merlin Biosciences, Apax Partners, 3i Plc, Atlas Venture, Westdeutsche Landesbank Girozentrale, GIMV, CDC-Innovation, Sofinnova, ABN Amro, AGF Innovation, Rothschild, Banexi, IMH, Private Equity Holdings, Sudinnova, and Banque de Vizille. For more information on Neurotech: www.neurotech.fr.