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:1/19/2017)... N.J. , Jan. 18, 2017 BD (Becton, Dickinson ... company, announced today that it will host a live webcast of ... 1 p.m. (ET). The webcast can be accessed ... available for replay through Tuesday, January 31, 2017. ... About BD BD is ...
(Date:1/18/2017)... 18, 2017 Applied BioMath ( www.appliedbiomath.com ... drug research and development, today announced that Dr. ... CEO of Applied BioMath, will present at the ... (BAGIM) Meeting on Thursday January 19, 2017 at ... , MA.   Dr. Burke,s talk "Quantitative Modeling and ...
(Date:1/18/2017)... NJ (PRWEB) , ... January 18, 2017 , ... ... to more and more E&L expertise. Within Albany Molecular Research, Inc. (AMRI), the ... in the past year and is planned for further growth in 2017. Extractable ...
(Date:1/18/2017)... OF PRUSSIA, PA (PRWEB) , ... January 18, ... ... disrupt clinical operations again at the CHI SCOPE Summit for Clinical Ops Executives ... AstraZeneca in engaging panel discussions to examine vital clinical research issues such as ...
Breaking Biology Technology:
(Date:12/22/2016)... SuperCom (NASDAQ:   SPCB ... Safety, HealthCare, and Finance sectors announced today that Leaders in Community ... and deploy a community-based supportive services program to reduce recidivism in ... expanding its presence in the state. ... This new program, which is expected to commence ...
(Date:12/20/2016)... 20, 2016   Valencell , the leading ... STMicroelectronics (NYSE: STM), a global semiconductor leader ... announced today the launch of a new, highly ... that includes ST,s compact SensorTile turnkey ... biometric sensor system. Together, SensorTile and Benchmark deliver ...
(Date:12/16/2016)... 16, 2016   IdentyTechSolutions America LLC , ... and solutions and a cutting-edge manufacturer of software ... is offering seamless, integrated solutions that comprise IDT ... The solutions provide IdentyTech,s customers with combined physical ... from crime and theft. "We are ...
Breaking Biology News(10 mins):