Boston, June 14, 2004 – PRNewswire

In the 2004 Biotechnology Business Plan Competition organized by the GSAS Harvard Biotechnology Club, NeuroHealing Pharmaceuticals Inc., a pharmaceutical company focused on the development of treatments for the neuro-rehabilitation market, was awarded first prize by the panel of judges comprised of members of leading venture capital firms.

At the awards ceremony hosted by Brown Rudnick Berlack Israels LLP, the judges described NeuroHealing’s concept to be solid, novel and addressing an attractive, unserved market. Discussing the review of many outstanding companies, Patrick Loerch, the director of the competition, said “NeuroHealing’s excellent management team, experienced in the target market and development process, resulted in a clear winner this year.” Judges included representatives from the following venture firms: BioVentures Investors, Boston Millennia Partners, CDP Capital, Flagship Ventures, MPM Capital, Oxford Bioscience Partners, Polaris Ventures and Versant Ventures.

“This award recognizes the founders, Daniel Katzman and Esteban Fridman’s, innovative concept of the need for a drug therapy approach to the neuro-rehabilitation market, and the work of Elkan Gamzu, Chairman, Irit Aish and the entire team in establishing our clinical programs” said Neal Farber, CEO of NeuroHealing. “In addition, we thank the Harvard Biotechnology Club and the judges for this honor and exposure, as we progress in our fundraising efforts.”

NeuroHealing is focused on the development of treatments to improve the post-acute neuro-rehabilitation process and functional outcome for patients who have suffered debilitating injuries to the central nervous system. This receptive market includes the neuro-rehabilitation needs of coma, TBI, stroke and Parkinson’s Disease patients. NeuroHealing finds and rapidly develops products for this market based on the unexploited potential in existing drugs. The company’s lead product candidate is a drug treatment to enhance the recovery of patients from coma and near-coma. An IND is in preparation for a Phase II trial, and clinical sites in the US, Israel and Argentina have already been established. The company has also identified and tested several other product candidates in limited human studies.

The GSAS Harvard Biotechnology Club is a non-profit organization with over 4,000 members from industry and academia. Among other activities, the Club hosts events and provides services that allow members to explore the worlds of business and biotechnology. The Club’s mission is to bridge the gap between industry and academia by building relationships with companies operating in the biotechnology and healthcare sphere. Corporate sponsorships support all club activities and operations.

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