Press Release

Neurotech Names Ted Danse as New President and CEO

Lincoln, RI and Paris, France, October 13, 2005 - Neurotech, a biotechnology company specializing in the development of sight-saving innovative therapeutics for chronic retinal diseases, announced today the appointment of Ted Danse as its new President and Chief Executive Officer.

Mr. Danse has over 25 years of life science experience, including more than 20 years in the ophthalmic industry. Previously he served as President and CEO of the US ophthalmic pharmaceutical company ISTA Pharmaceuticals Inc. where he was responsible for taking the company public in 2000. He has also served as a Director on the boards of two development-stage ophthalmic companies, Quest Vision Technologies, Inc. and Vision Solutions Technologies, Inc. His early career was spent in business development roles at Coopervision, Bausch & Lomb and Schering-Plough. He then went on to hold various senior positions in Allergan. Mr. Danse holds a BA degree from the University of the Pacific, California, USA and an MBA from Thunderbird, The Garvin Graduate School of International Management, Arizona, USA.

"I am stepping into this pivotal position at Neurotech with great anticipation; it is a very exciting time for the development of the company," commented Mr. Danse, "Using my experiences at ISTA, Allergan and other US ophthalmic companies, I will bring a vital new perspective to the growth of Neurotech."

"We are delighted to have someone of Ted's calibre join us in the CEO role of Neurotech at a time when the company is poised to advance significantly with its technology," stated Dr. Laurent Ganem, Partner of Apax Partners, a Director and leading shareholder of Neurotech.

Mark Clement, Chief Executive of Merlin Biosciences Limited, a Director and leading shareholder of Neurotech, added, "Ted brings to the Neurotech team many years of experience in some of the leading companies in our sector. We are sure he will lead the company to the forefront of the ophthalmic industry."

Mr. Danse will be based at the company’s U.S. headquarters in Lincoln, Rhode Island.

About Neurotech
Neurotech is a biotechnology company dedicated to the development of sight-saving therapeutics for chronic retinal diseases. Retinal diseases represent significant unmet medical needs for which new medical therapies are the largest market opportunity in ophthalmology. Neurotech's lead product (NT-501) is in clinical development for the treatment of retinal degeneration, including retinitis pigmentosa, an inherited disease leading to blindness, geographic atrophy, a serious condition associated with atrophic (dry) macular degeneration, and is evaluating other factors that can be used with its proprietary delivery technology to treat additional retinal diseases. The company's U.S. office is headquartered in Lincoln, RI, and European operations are located in Paris. Neurotech is supported in its scientific and business strategies by world experts in ophthalmology and by a group of international investors led by Apax Partners and Merlin Biosciences.

To learn more about Neurotech, please visit our web site at www.neurotechusa.com.