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:2/10/2016)... Feb. 10, 2016 NX Prenatal Inc., a ... NeXosome® technology for early warning of adverse pregnancy ... recent study by Dr. Thomas McElrath ... Maternal Fetal Medicine,s (SMFM) annual meeting held in ... , 2016.  The presentation reported initial positive top-line ...
(Date:2/10/2016)... ... February 10, 2016 , ... ... announced that it has joined the Human Vaccines Project, a public-private partnership ... and cancer. , The Human Vaccines Project brings together leading pharmaceutical ...
(Date:2/10/2016)... -- Allergan plc (NYSE: AGN ) a leading global ... Allergan,s CEO and President, will be featured as the ... RBC Capital Markets Healthcare Conference on Tuesday, February 23, ... Palace Hotel in New York, NY ... be accessed on Allergan,s Investor Relations web site at ...
(Date:2/10/2016)... ... February 10, 2016 , ... Benchmark Research, a fully-integrated ... of two long-standing principal investigators (PI) to the roles of Chief Medical Officer, ... , Dr. Laurence Chu, a Benchmark Research PI in the Austin office, will ...
Breaking Biology Technology:
(Date:2/1/2016)... 2016 Rising sales of consumer ... touchfree intuitive gesture control market size ... of consumer electronics coupled with new technological advancements to ... size through 2020   --> ... technological advancements to drive global touchfree intuitive gesture control ...
(Date:1/27/2016)... WEST CHESTER, Ohio , Jan. 27, 2016 /PRNewswire/ ... services supplier based in West Chester, Ohio ... and their award winning service staff, based in ... Track,s technical capacity and ability to provide modifications, installations ... John Dovalina , CEO of PLUS, commented, "PLUS ...
(Date:1/22/2016)... , Jan. 22, 2016 ... addition of the "Global Biometrics Market ... their offering. --> http://www.researchandmarkets.com/research/p74whf/global_biometrics ... "Global Biometrics Market in Retail Sector ... --> Research and Markets ( ...
Breaking Biology News(10 mins):