TOKYO(September 17, 2002)--Nissho Iwai corporation (Nissho Iwai: Tokyo, Japan) has signed an agreement with Neurosciences Victoria Ltd. (NSV: Melbourne, Australia) to act as NSV's exclusive agent in Japan to promote NSV's neuroscience research projects in the Japanese market.

NSV is Australia's largest scientific partnership dedicated to discoveries in the neurosciences. With a core vision of enhancing neuroscience research capability and commercialisation opportunities for the benefit of the wider community, NSV brings together the breadth of Victoria's scientific excellence in neuroscience to tackle major neurological conditions like Parkinson's disease, Alzheimer's disease, pain, stroke, epilepsy, neuromuscular disorders and schizophrenia. In supporting the development of neuroscience research discoveries, a core goal of NSV is to develop a system of access to first class technology and neuroscience that will ultimately improve the efficiency of research with a direct application to clinical practice.

NSV's four founding members - The University of Melbourne, the Howard Florey Institute of Experimental Physiology and Medicine, Monash University, and the National Stroke Research Institute - established NSV with the support of a seed grant from the Victorian Government's Science Technology and Innovation Initiative. Since then, Sydney University, The Brain Research Institute, John Curtin School of Medicine and The Mental Health Research Institute are also participating with NSV. NSV has successfully attracted additional funding, including from the Australian Government's Major National Research Facilities Program to establish the National Neuroscience Facility, an enterprise to develop a neuro-technology industry for Australia.

Medical demand related to neuroscience diseases is compelling against the background of rapidly aging society in the industrialized nations. The worldwide market size of neuroscience related medicine is projected to increase to a total of US$ 130 billion in the year of 2010, according to NSV's projection. As for Japan, the government recently publicized its policy with particular emphasis on research and development relating to the neuroscience diseases, such as Alzheimer's disease, as one of the major diseases to overcome.

Under the new agreement, NSV will seek partnership opportunities with Japanese pharmaceutical companies to commercialize its projects in cooperation. Nissho Iwai will collaborate with NSV to promote its projects in the Japanese market.

Bio Business Dept. of Nissho Iwai was established in April 2001 to make contributions to the biotechnology industry through strategic alliance, investment and joint business development for biotech venture companies globally. Nissho Iwai is developing a promising biotechnology related business through its global bio business network of which members are from its group companies worldwide, providing customers with "One-stop shopping" function of Sogo Shosha required for developing business, such as arranging contracts, marketing, trading, distribution and financing.