Press Releases
August 23, 2002
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
company's 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 company's Board
of Directors.
For further information please contact :
Ted Danse, CEO
Neurotech
Phone: 1 401 333-3880 x3116
Email: t.danse@neurotechusa.com
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