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News Release

October 24, 2002


LA JOLLA, California, and Tokyo, Japan October 24, 2002- Neurogenetics, Inc. (President & CEO: Dr. Neil Kurtz) a privately held biopharmaceutical company, and Eisai Co., Ltd (President & CEO Mr. Haruo Naito) today announced the signing of a research agreement that will focus on the discovery of genes responsible for Late Onset Alzheimer's Disease (LOAD) to establish valid targets and to facilitate the development of new therapeutic products.

Neurogenetics received a signing fee, an equity investment and research support for three years. In return, Neurogenetics has granted to Eisai rights of first negotiation and refusal for biologically validated targets identified by the research collaboration. In addition, Neurogenetics and Eisai may enter into drug discovery agreements involving the biologically validated targets. Financial terms of the agreement were not disclosed. The LOAD gene discovery and target discovery research will be performed at Neurogenetics, Inc. in collaboration with Dr. Rudolph Tanzi's laboratories at the Massachusetts General Hospital and Harvard University.

"It is Eisai's mission, as the company that has discovered Aricept for the treatment of Alzheimer's disease, to continuously offer innovative solutions to patients worldwide who are suffering from the disease. We believe the collaboration with Neurogenetics, Inc. for the LOAD program will facilitate our research activities to find curative or preventive treatments for Alzheimer's disease." said Dr. Hiroshi Yamauchi, Senior Vice President-Research & Development of Eisai Co., Ltd.

"We are excited about extending our existing relationship with Eisai. The new agreement further validates our genetic approach and underscores the progress we have made," said Dr. Neil Kurtz. " This agreement enables us to retain value as well as expand our resources to accomplish the critical milestones we have set for the LOAD gene and target discovery program," added Dr. Kurtz.

About Eisai
Eisai Co., Ltd. is a research-based human health care company, which discovers, develops and markets products in more than 30 countries. Through a global network of research facilities, manufacturing sites and marketing subsidiaries, Eisai actively participates in all aspects of the worldwide health care system. Eisai employs more than 7,000 people worldwide. Eisai common stock is listed on the Tokyo Stock Exchange and the Osaka Securities Exchange. For additional information, visit Eisai's web site at .

About Neurogenetics
Neurogenetics, Inc., founded in April 2000, is a San Diego-based emerging biopharmaceutical company focused on the development of novel small molecule therapeutics for Alzheimer's disease (AD) and related neurodegenerative disorders. The Company has exclusive license agreements with Massachusetts General Hospital for a number of significant AD discoveries from the laboratory of Dr. Rudolph Tanzi, scientific co-founder of Neurogenetics and Head of the Genetics and Aging Research Unit at Massachusetts General Hospital/Harvard University. Neurogenetics' research efforts are focused on establishing novel molecular targets through analysis of disease-specific genetic risk factors for neurodegenerative diseases and developing orally active small molecule therapeutics to halt the progress of such diseases.

Kumar Srinivasan, Ph.D., M.B.A. Takeyuki Uchiyama
Director, Corporate Development
Neurogenetics Inc.

Director, Public Relations Department
Eisai Co., Ltd.
858-623 5665 x 125