Navigation Links
Neurobiological Technologies Announces Termination of its License and Cooperation Agreement with Merz and Children's Medical Center
Date:8/12/2009

EMERYVILLE, Calif., Aug. 12 /PRNewswire-FirstCall/ -- Neurobiological Technologies, Inc. (NTI(R)) (Nasdaq: NTII) today announced that it has entered into an agreement to terminate its license and cooperation agreement with Merz Pharmaceuticals GmbH (Merz) and Children's Medical Center Corporation (CMCC). Pursuant to the termination of the agreement, within 10 business days Merz will make a final payment to NTI in satisfaction of all its royalty and other obligations under the license and cooperation agreement. Also pursuant to the termination agreement, NTI and Merz agreed to a mutual release of all claims related to the license and cooperation agreement.

NTI also announced that it received a regularly scheduled royalty payment from Merz immediately prior to entering into the termination of the license and cooperation agreement.

Under the license and cooperation agreement, as amended in 2008, NTI and CMCC have been entitled to receive quarterly royalty payments from Merz on sales of Memantine in the United States, with scheduled reductions in the royalty rates. The termination of the agreement with respect to NTI does not affect the rights and obligations flowing between Merz and CMCC under the amended agreement. The royalty payment received and the termination payment due from Merz aggregate approximately $6 million and will be recognized as revenue in the quarter ending September 30, 2010, the first quarter of NTI's 2010 fiscal year.

About Neurobiological Technologies, Inc.

Neurobiological Technologies, Inc. is a biopharmaceutical company historically focused on developing investigational drugs for central nervous system conditions. The company is currently reviewing strategic alternatives with the goal of maximizing the value of its cash and other assets for the benefit of its shareholders.


'/>"/>
SOURCE Neurobiological Technologies, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Neurobiological Technologies Announces Hiring of Advisor to Seek Sale of Company
2. Neurobiological Technologies Reports Second Quarter Fiscal 2009 Financial Results
3. Neurobiological Technologies Reports Receipt of $1.5 Million Royalty Payment for Quarterly Sales of Memantine
4. Neurobiological Technologies Announces Suspension of Viprinex Development
5. Neurobiological Technologies Partner, Celtic Pharma, Provides Update on XERECEPT(R) Clinical Program and Planned Sale in 2009
6. Neurobiological Technologies, Inc. Reports First Quarter Fiscal Year 2009 Financial Results
7. Neurobiological Technologies to Present at the Rodman & Renshaw 10th Annual Healthcare Conference in New York on November 10
8. Neurobiological Technologies Sets Date for First Quarter Financial Results
9. Neurobiological Technologies Reports Receipt of $2 Million Royalty Payment for Quarterly Sales of Memantine
10. Neurobiological Technologies to Present at the BIO Investor Forum in San Francisco on October 30, 2008
11. Neurobiological Technologies Announces Update Call on Viprinex (TM) Phase 3 Trial Program
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/8/2016)... CARDIFF, UK (PRWEB) , ... December 08, 2016 ... ... high precision light to control cells — optogenetics — is key to exciting ... state of the art, spatially patterned light projected via free-space optics stimulates small, ...
(Date:12/8/2016)... , December 8, 2016 ... expanded its customisable SureSeq™ NGS panel range with the launch ... fast and cost-effective study of variants in familial hypercholesterolemia (FH). ... variation (CNV) detection on a single small panel and allows ... content. This includes all exons for LDLR , ...
(Date:12/8/2016)... Frederick, Maryland (PRWEB) , ... ... ... Inc announces the commercial launch of flexible packaging for their exceptionally ... (“SU”) disposable bag system extends RoosterBio’s portfolio of bioprocess media products engineered ...
(Date:12/8/2016)...  Soligenix, Inc. (OTCQB: SNGX) (Soligenix or the ... and commercializing products to treat rare diseases where ... the long-term follow-up data from its Phase 2 ... Defense Regulator (IDR), in the treatment of oral ... undergoing chemoradiation therapy (CRT).  The additional 12-month safety ...
Breaking Biology Technology:
(Date:11/17/2016)... -- Global Market Watch: Primarily supported by ownership ... and Academics) market is to witness a value of US$37.1 ... highest Compounded Annual Growth Rate (CAGR) of 10.75% is foreseen ... period 2014-2020. North America is not ... Europe at 9.56% respectively. Report Focus: ...
(Date:11/16/2016)... , Nov. 16, 2016 Sensory ... experience and security for consumer electronics, and ... financial and retail industry, today announced a global ... convenient way to authenticate users of mobile banking ... TrulySecure™ software which requires no specialized ...
(Date:11/15/2016)... Research and Markets has announced the addition of the ... their offering. ... The global bioinformatics market ... 6.21 Billion in 2016, growing at a CAGR of 21.1% during ... is driven by the growing demand for nucleic acid and protein ...
Breaking Biology News(10 mins):