Neuro-Hitech Pharmaceuticals, Inc. Appoints Mark Auerbach as Chairman of the Board of Directors; John D. Abernathy Joins Board and Will Chair Audit Committee Read more »

Neuro-Hitech Pharmaceuticals, Inc. Begins Trading under Symbol ''NHPI''; Private Placement of $4.35 Million Coincides with Reverse Merger Read more »

Neuro-Hitech Establishes Advisory Board to Oversee Development of Alzheimer’s Drug

Reputed scientists, doctors bring unique credentials to initiative designed to assist in creation of next-generation therapies

NEW YORK, NY, August 14, 2006 – Neuro-Hitech (OTC BB: NHPI), a biopharmaceutical company focused on the development and commercialization of next-generation compounds against proven targets for neurodegenerative diseases, today announced the formation of the Neuro-Hitech Affiliated Scientific Advisory Board. Bringing together highly respected scientists from related fields, the board will draw upon its members unique expertise to offer strategic counsel to the company and help it deliver on its core mission. The board’s first priority is to assist the company in its efforts to further develop Huperzine A, an alkaloid extract of the plant Huperzia serrata that shows promise in early clinical testing as a treatment for Alzheimer’s Disease.

Each member of the Affiliated Scientific Advisory Board brings industry-leading credentials to the initiative. The board includes: Dr. Paul Aisen, professor of Neurology and Medicine, Vice Chair of the Department of Neurology and Director of the Memory Disorders Program at Georgetown University School of Medicine; Dr. Robert M. Moriarty, Chief Science Officer of OrgSyn Laboratory, Inc.; and Dr. Dinesh Patel, Chairman of the Board and Co-founder of the XEL Herbaceuticals, Inc. From 1985 – 1999 Dr. Patel served as Co-Founder, Chairman of The Board of Directors and President & CEO of TheraTech, Inc., a biotechnology company that he took public and eventually sold for $350 million to Watson Pharmaceuticals.

“We’re privileged to have this group of accomplished professionals assist us in our efforts to develop and commercialize next-generation compounds,” said President and CEO of Neuro-Hitech Pharmaceuticals Reuben Seltzer. “Our research and clinical tests so far show tremendous promise for breakthrough benefits for those who suffer from Alzheimer’s and other degenerative neurological disorders, and this board is uniquely qualified to facilitate our progress.”

Pre-clinical studies suggest that Huperzine A’s potential advantages over other AChE inhibitors include higher blood-brain-barrier penetration, better tolerability and multiple mechanisms of action, including both AChE and NMDA antagonism. The drug is currently an exhaustive Phase II study being conducted at 30 renowned academic and medical sites, including Georgetown University, Mt Sinai, University of California at Irvine, New York University, Premiere Research Institute, University of Pittsburgh, Emory University, and Roskamp Institute Memory Clinic.

Moving forward, the Affiliated Scientific Advisory Board will also advise Neuro- Hitech as Huperzine A undergoes a study in conjunction with the Walter Reed Army Institute (WRAER) to analyze its effectiveness as a neuroprotective agent.

DR. PAUL AISEN
Dr. Aisen is a Professor of Neurology and Medicine, Vice Chair of the Department of Neurology and the Director of the Memory Disorders Program at Georgetown University School of Medicine. Dr. Aisen also serves as the Associate Director of the Alzheimer's Disease Cooperative Study (ADCS) Group. He was one of the first Alzheimer's disease clinical trialists in the U.S. and was an investigator in the pivotal FDA registration studies for Namenda. He received his M.D. from Columbia University.

DR.ROBERT M. MORIARTY
Dr. Robert M. Moriarty is Chief Science Officer of OrgSyn Laboratory, Inc. Dr. Moriarty received his Ph.D. degree from Princeton University. After completing his postdoctoral assignment at University of Munich and Harvard University, he worked as a research chemist at Merck from 1955-57. He founded Steroids Limited in 1981, which became SynQuest Limited and was acquired by United Therapeutics in 2000. Dr. Moriarty has authored over 200 articles on various topics in synthetic and mechanistic organic synthesis. He is a recipient of several prestigious awards and grants, including most recently the ACS award for Creative Research & Applications of Iodine Chemistry for 2005. Dr. Moriarty has also held appointments at University of Strasbourg (1967), Karolinska Institute (1968), University of Geneva (1974), National Institute of Health (1975), University of Marseille (1976), and University of Erlangen (1976).

DR.DINESH PATEL
Dr. Patel is the Chairman of the Board and Co-founder of XEL Herbaceuticals Inc. Dr. Patel is considered by many to be the father of biotechnology and pharmaceuticals in the Mountain West region in the US. Dr. Patel has served fourteen years as Co-founder, Chairman of the Board of Directors, President & CEO, of TheraTech, Inc., a Salt Lake City, Utah-based company that has been a pioneer in the development and manufacture of innovative drug delivery products. Under Dr. Patel's guidance, TheraTech established strategic alliances with major pharmaceutical companies including Eli Lilly, Pfizer, Procter & Gamble, Roche, SmithKline Beecham, and Wyeth-Ayerst. Dr. Patel directed the construction of a state-of-the-art manufacturing facility and oversaw the company's R&D efforts through the manufacture of its currently marketed transdermal products (leading products being transdermal testosterone and estrogen hormone-replacement therapy patches). Dr. Patel took the company public and eventually sold it for $350 million to Watson Pharmaceuticals. Dr. Patel has been the recipient of numerous awards, including Scientific and Technology Development Pioneer of Progress Award, Governor's Medal for Science and Technology Award (State of Utah), and Entrepreneur of the Year Award (Mountain West Venture Group), to name just a few. Currently, Dr. Patel is also a key partner with Spring Capital, a venture company and a member of the scientific advisory aboard for the Governor of Utah.

About Neuro-HiTech
Neuro-Hitech (www.neurohitech.com) is focused specifically on the development and commercialization of next-generation therapies against proven targets for neurodegenerative diseases. The company’s signature offering, Huperzine A is being tested for efficacy in the treatment of Alzheimer's disease and the company has plans to study other degenerative disorders such as vascular dementia, mild cognitive impairment and myasthenia gravis. The company is planning on researching the effectiveness of Huperzine A as a nerve gas antidote. Neuro-Hitech is currently developing Huperzine A in both oral and transdermal form.

Cumulative Research Indicates Huperzine A Offers Potential Advantages Over AChE Inhibitors Used in U.S. to Treat Alzheimer’s, Neuro-Hitech Study Finds

Found to be safe and well tolerated in cognitively normal older adults, Phase II study continuing

New York, NY, July 18, 2006 – Cumulative research on the development of huperzine A—an alkaloid extract of the plant Huperzia serrata—as a treatment for Alzheimer’s shows it may have advantages over other AChE inhibitors being used in the U.S. to treat Alzheimer’s Disease (AD), according to early results in a new study from Neuro-Hitech (OTC BB: NHPI), a biopharmaceutical company focused on the development and commercialization of next-generation therapies against proven targets for neurodegenerative diseases. Preclinical studies suggest that the potential advantages of huperzine A include higher blood-brain-barrier penetration, better tolerability and multiple mechanisms of action, including both AChE and NMDA antagonism. Antioxidant and neuroprotective properties may also be useful as a disease-modifying treatment. A Phase II study is currently underway.

The findings were presented at the 10 th International Conference on Alzheimer’s Disease and Related Disorders (ICAD) Conference in Madrid, by Dr. Paul S. Aisen, Vice Chair of the Department of Neurology and the Director of the Memory Disorders Program at Georgetown University School of Medicine, who also serves as the Phase II trial’s project director.

Collaborating with the Alzheimer's Disease Cooperative Study, the National Institutes of Health and Georgetown University Medical Center, Neuro-Hitech has completed two U.S. Phase I studies for huperzine A and is currently conducting Phase II clinical trials. In a series of two four-week Phase I dose-escalation clinical trials, huperzine A was found to be safe and well tolerated in cognitively normal older (65-79 years) subjects. Even at doses up to 800µg per day, side effects were rated as mild.

In t he current Phase II study, the company is evaluating 150 participants at 28 locations in a double-blind, placebo-controlled therapeutic trial to determine whether natural huperzine A improves cognitive function in individuals with AD. Participants are being randomly assigned to three equal groups, allowing comparison of huperzine A 200µg bid, huperzine A 400µg bid and a placebo. This study’s endpoints will include not only assessments of cognitive function, but also a global clinical impression of change, activities of daily living and neuropsychiatric status. At the conclusion of the 24-week study, Neuro-Hitech will provide huperzine A on a complimentary basis to subjects who wish to participate in a six-month, open-label extension phase of the research.

“Although no registration trials have yet to be conducted in the U.S., huperzine A has been extensively studied in clinical trials in China, where it’s been prescribed with efficacy and safety for several years,” said Reuben Seltzer, CEO of Neuro-Hitech. “Our own research indicates that huperzine A compares favorably in efficacy and safety to other AChE products currently on the market, and we plan to make huperzine A available in both oral and transdermal form.”

Background
Huperzine A, an alkaloid extract of the plant Huperzia serrata, is a component of a traditional Chinese herbal medicine, Qian Ceng Ta that is used to treat fever and inflammation. During the 1980s, scientists in China determined that huperzine A was a potent inhibitor of acetylcholinesterase (AChE) (Wang et. al. 1986), a finding that has been confirmed repeatedly (Ashani et al 1992; Saxena et al 1994). The growing use of huperzine A by AD and non-AD individuals in the U.S. has increased the urgency of conducting controlled clinical trials to determine its safety and efficacy. This is the first controlled study of huperzine A being conducted outside of China.

About Neuro-Hitech, Inc.
Neuro-Hitech (www.neurohitech.com) is focused specifically on the development and commercialization of next-generation therapies against proven targets for neurodegenerative diseases. The company’s product offering, Huperzine A and its analogues, is being tested for efficacy in the treatment of Alzheimer's disease, as well as vascular dementia, mild cognitive impairment and myasthenia gravis. The company is also researching the effectiveness of Huperzine A as a pre-treatment for protection against nerve gas (organophosphate poisoning). Neuro-Hitech plans to make Huperzine A available in both oral and transdermal forms of drug delivery.

Neuro-Hitech Pharmaceuticals, Inc. Appoints David Barrett Chief Financial Officer; Barrett Adds M&A, Tax and Audit, and Start-Up Experience to Neuro-Hitech

NEW YORK - April 6, 2006 - Neuro-Hitech Pharmaceuticals, Inc. (OTC BB: NHPI), a drug development company engaged in the development and commercialization of Huperzine A (HupA) and its analogues for Alzheimer's and other degenerative neurological disorders, today announced that it has appointed David Barrett as its Chief Financial Officer.

Barrett comes to Neuro-Hitech from Overture Financial Services, LLC, (OFS) where he was CFO. OFS specializes in the construction and management of investment platforms for financial intermediaries, Previously, Mr. Barrett was CFO at Overture Asset Managers, LLC where he was responsible for managing the finances, business, acquisition and operation strategy for the firm and its affiliates.

Before working with Overture, he worked with Deloitte & Touche for four years, focusing his talents on Mergers and Acquisitions after serving in the firm's Tax and Audit Practice. Barrett was the Senior Consultant on the broker-dealer audit for two major investment-banking clients. He also served on Deloitte's committee that dealt with Sections 302 and 404 of Sarbanes-Oxley. Barrett is a Certified Public Accountant in the states of New York and Connecticut. He earned a Masters in Accounting at the University of Florida in 1999, where he also received his Bachelor's of Science in Finance & Accounting in 1999.

Reuben Seltzer, President and CEO of Neuro-Hitech, said, "David Barrett brings to our company the complete set of financial and accounting skills and experience that we need to succeed. His familiarity with tax and audit issues is critical to any small-cap company. His experience will further allow us to make wise decisions about expanding upon our portfolio of compounds through mergers or acquisitions. Additionally, his understanding of Sarbanes-Oxley, which he gained through daily experience at Deloitte, is of considerable value in these times, especially to a growing company. His management abilities, as demonstrated in his work on numerous audits as Deloitte, will help us build a motivated and energized staff across our organization. Finally, his experience at Overture as CFO gives him a familiarity with the day-to-day functions he will be called upon to execute as our CFO. Those functions will include regularly meeting with investors and analysts, and we expect he will rapidly become one of the public faces of Neuro-Hitech."

Barrett commented, "I am looking forward to a long and productive relationship with Reuben and the rest of the Neuro-Hitech Management Team. The development of new medical therapies is both a scientific and financial challenge, and I am confident that my training and talents will help in commercializing Huperzine A and our other development initiatives. In addition, I am committed to making sure that investors and analysts get a constant and clear picture of exactly where things stand both scientifically and financially. As the scientific side of Neuro-Hitech develops Huperzine A and as it adds new compounds and therapies to its portfolio, it will be my responsibility to ensure that the Company remains a solid investment story, and I am very excited by the Company's potential."

About Neuro-Hitech Pharmaceuticals, Inc.
Neuro-Hitech Pharmaceuticals, Inc. is a drug development company engaged in the development and commercialization of Huperzine A (HupA) and its analogues for a variety of degenerative neurological disorders.

This release contains forward-looking statements which involve known and unknown risks, delays, uncertainties and other factors not under the Company's control, which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or other expectations implied by these forward-looking statements. These factors include results of current or pending research and development activities, actions by the FDA and other regulatory authorities, and those factors detailed in the Company's filings with the Securities and Exchange Commission such as 10K, 10Q and 8K reports.

Neuro-Hitech Pharmaceuticals, Inc. Signs Alzheimer's Transdermal Development Agreement with Xel; Transdermal Patch to Deliver Huperzine A in up to Weekly Doses

Completion of Oral Dose Phase II Study for Huperzine A Expected at Year-End

NEW YORK - March 21, 2006 - Neuro-Hitech Pharmaceuticals, Inc. (OTC BB: NHPI), a drug development company engaged in the development and commercialization of Huperzine A (HupA) and its analogues for Alzheimer's and other degenerative neurological disorders, today announced that it has signed a development agreement with Xel Herbaceuticals, Inc., a privately held company based in Salt Lake City, Utah, to develop a transdermal patch to treat Alzheimer's Disease. The therapeutic agent is Huperzine A, a molecule currently undergoing US Phase II clinical testing as an orally administered treatment for Mild-to-Moderate Alzheimer's Disease.

Reuben Seltzer, President and CEO of Neuro-Hitech, said, "We are very excited by this agreement, especially so because Xel has two world renowned scientist Dr. Dinesh Patel and Dr. Danyi Quan both pioneers in transdermal patch technology, both founders and driving forces behind Xel's transdermal drug delivery program."

He added, "A transdermal patch is the ideal way to deliver any Alzheimer's treatment for several reasons. First, because of the nature of the disease, patients often forget to take their medication; a transdermal patch may provide the drug for up to a week meaning greater compliance. Second, because transdermal delivery is a more efficient way to deliver the drug, avoiding the gastrointestinal tract, more drug gets into the bloodstream meaning a smaller dose size is needed to treat the condition. Third, the patch approach enjoys the support of a large majority of health care professionals meaning there is no need to educate them on its benefits; they already know. One market study, done by Dr. William Helmreich of Byron Research showed almost 97% of physicians surveyed preferred transdermal patches to orally ingested medication for the treatment of patients with Alzheimer's Disease and Mild Cognitive Impairment."

Dinesh Patel, Chairman of the Board and founder of Xel and past founder of transdermal patch pioneer TheraTech currently a unit of Watson Pharmaceuticals ("WPI") said, "Delivery of any Alzheimer's treatment by way of a transdermal patch is clearly preferable to other methods of drug delivery. What makes Huperzine A especially promising is its low therapeutic dose and low molecular weight, which make it ideal for transdermal delivery. Some other agents require higher dosages and are large molecules making them inappropriate for transdermal delivery."

Dr. Paul Aisen of Georgetown University Medical Center, principal investigator and project director for the Phase II clinical trial, said, "As a physician, I am intrigued by Huperzine A as a treatment for Alzheimer's Disease and other forms of dementia. The Phase I data that Neuro-Hitech has compiled suggest that it is very well tolerated by patients, and it appears to be extremely safe. The clinical studies performed in China to date show Huperzine A to be more effective than other cholinesterase inhibitors currently on the market. I think Huperzine A is a very promising treatment for Alzheimer's sufferers, and I look forward to working with Neuro-Hitech in developing a transdermal patch."

" Neuro-Hitech has compiled a great deal of clinical data from China, where Huperzine A has been used for years; in one Chinese study using the same clinical end points as an FDA-approved study for a leading Alzheimer's treatment, the data showed Huperzine A to be significantly more efficacious than the other treatment currently on the US market."

Neuro-Hitech has completed two US Phase I clinical studies on healthy elderly subjects for orally administered Huperzine A. The Phase I study results showed no medication doses missed because of adverse events related to treatment, no evidence of GI toxicity, and no adverse effect on vital signs, exams, labs, or ECG. In addition 30- and 90-day animal toxicity studies have been completed on Huperzine A in conjunction with the National Institute of Aging, a division of the National Institute of Health ("NIH")

Neuro-Hitech expects to complete the current Phase II trials by the end of 2006 with data expected to be available in early 2007. If preliminary indications are confirmed that Huperzine A is better tolerated and more effective, the Company intends to embark on a Phase III study. The transdermal patch development will trail this, but as the current and future studies prove the value of the oral delivery, expectations are that the patch will reach the market after the oral dose.

Neuro-Hitech has concluded other strategic agreements in Huperzine A research. It has exclusively licensed a portfolio of patents for Huperzine A and its analogs from the Mayo Clinic. It has a clinical research agreement with Georgetown University Medical Center, the University of California at San Diego, and the Alzheimer's Disease Cooperative Studygroup (ADCS). There are currently 24 sites that are participating in Neuro-Hitech's Phase II clinical trials. Further, it has concluded a cooperative research and development agreement with Walter Reed Army Institute.

Worldwide research thus far suggests that, in addition to Alzheimer's Disease, Huperzine A may be effective in treating other dementias and Myasthenia Gravis. Also, it has potential neuroprotective properties that may render it useful as a protection against neurotoxins, and it has an anti-oxidant effect.

Alzheimer's Disease affects an estimated 4.5 million people in the US, and 25 million worldwide have been diagnosed with the disease. In addition, Mild Cognitive Impairment afflicts another 4 million Americans and an additional 20 million people worldwide.

For additional information regarding the financial terms of the development agreement, please refer to the Neuro-Hitech report on Form 8-K filed with the Securities and Exchange Commission on March 21, 2006.

About Neuro-Hitech Pharmaceuticals, Inc.
Neuro-Hitech Pharmaceuticals, Inc. is a drug development company engaged in the development and commercialization of Huperzine A (HupA) and its analogues for a variety of degenerative neurological disorders.

This release contains forward-looking statements which involve known and unknown risks, delays, uncertainties and other factors not under the Company's control, which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or other expectations implied by these forward-looking statements. These factors include results of current or pending research and development activities, actions by the FDA and other regulatory authorities, and those factors detailed in the Company's filings with the Securities and Exchange Commission such as 10K, 10Q and 8K reports.

Neuro-Hitech Pharmaceuticals, Inc. Appoints Mark Auerbach as Chairman of the Board of Directors; John D. Abernathy Joins Board and Will Chair Audit Committee

NEW YORK - Feb. 21, 2006 - Neuro-Hitech Pharmaceuticals, Inc. (OTC BB: NHPI), a drug development company engaged in the development and commercialization of Huperzine A (HupA) and its analogues for a variety of degenerative neurological disorders, today announced that it has appointed Mark Auerbach Chairman of its Board of Directors. Also, the Company has appointed John D. Abernathy to its board, and he will chair the audit committee. Both appointments were effective upon Neuro-Hitech's merger with Northern Way Resources, Inc. This brings the total number of directors to 4, two of whom are outside directors.

Mark Auerbach, age 67, serves as Executive Chairman of the Board of Par Pharmaceutical Companies, Inc. (NYSE: PRX), a manufacturer and marketer of generic and branded pharmaceuticals. He is also the Executive Chairman of the Board of Optimer Pharmaceuticals, a biopharmaceutical company with a portfolio of late-stage anti-infective products. From 1993 through November 2005, he was CFO of Central Lewmar, a fine paper distributor, and he is a Certified Public Accountant. Over the last twenty years, he has been a board member of several small cap companies.

John D. Abernathy, age 68, is a former Chief Operating Officer of the law firm of Patton Boggs, LLP, a position he held for almost 10 years before his retirement in April 2004. Earlier in his career, he served as managing partner of the accounting firm BDO Seidman for a period of seven years. He currently serves on the board of Sterling Construction Company, and Par Pharmaceutical Companies, where he serves with Auerbach and is lead director for the independent directors. He is chairman of the audit committee for both Sterling and Par.

Reuben Seltzer, President and CEO of Neuro-Hitech, said, "Having two such distinguished individuals as Mark and John join our board will be of immense value to the growth and future of Neuro-Hitech. We are looking forward to the benefits of their many years of business experience as well as their proven track record of achievement."

Auerbach stated, "I am excited to be a part of the Neuro-Hitech board. The Company is at a very significant stage in its development where strategic planning and management decisions will affect the future growth of the company. Relying on my knowledge and experience, I am confident that I can make a unique and valuable contribution to the firm."

Abernathy commented, "I am very pleased to join Neuro-Hitech at this very promising time in its development. I have been impressed by the potential of Huperzine A and by the business plan the company has to bring this treatment to people who need it."

About Neuro-Hitech Pharmaceuticals, Inc.
Neuro-Hitech Pharmaceuticals, Inc. is a drug development company engaged in the development and commercialization of Huperzine A (HupA) and it's analogues for a variety of degenerative neurological disorders.

Neuro-Hitech Pharmaceuticals, Inc. Begins Trading under Symbol ''NHPI''; Private Placement of $4.35 Million Coincides with Reverse Merger

NEW YORK - Feb. 2, 2006 - Neuro-Hitech Pharmaceuticals, Inc., a drug development company engaged in the development and commercialization of Huperzine A (HupA) for a variety of degenerative neurological disorders, today announced its stock will begin trading under the symbol OTC BB: NHPI today, February 2, 2006.

Neuro-Hitech completed a reverse merger with Northern Way Resources, Inc. The Company also sold 1,740,000 shares of common stock and warrants to purchase 435,000 shares of common stock exercisable at $5.00 per share for a purchase price of $25,000 per unit, each unit consisting of 10,000 shares and warrants for 2,500 shares. In exchange for the units, the Company received cash proceeds of $4.35 million.

Reuben Seltzer is the President and CEO of Neuro-Hitech as well as founding shareholder, and Alan Kestenbaum is Executive Vice President and a founding shareholder of Neuro-Hitech.

Through a collaboration with the Alzheimer's Disease Cooperative Study, the National Institutes of Health (NIH), and Georgetown University Medical Center, Neuro-Hitech has completed Phase I studies and is currently conducting a Phase II clinical trial for HupA, a cholinesterase inhibitor that may be effective in the treatment of Alzheimer's Disease. The company also believes that it may, in future, test the effectiveness of HupA in the treatment of Mild Cognitive Impairment.

Seltzer said, "We are excited by these events which we believe will give us the resources to complete our Phase II study and further our product development programs."

About Neuro-Hitech Pharmaceuticals, Inc.
Neuro-Hitech Pharmaceuticals, Inc., is a drug development company engaged in the development and commercialization of Huperzine A (HupA) for a variety of degenerative neurological disorders. Huperzine A is a plant alkaloid derived from the Chinese club moss plant.

This release contains forward-looking statements which involve known and unknown risks, delays, uncertainties and other factors not under the Company's control, which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or other expectations implied by these forward-looking statements. These factors include results of current or pending research and development activities, actions by the FDA and other regulatory authorities, and those factors detailed in the Company's filings with the Securities and Exchange Commission such as 10K, 10Q and 8K reports.