EMERYVILLE, Calif., Feb. 20 /PRNewswire-FirstCall/ -- Neurobiological Technologies, Inc. (NTI(R)) (Nasdaq: NTII), today announced it has received approximately $2.1 million from Merz Pharmaceuticals GmbH (Merz) for sales by Merz and its marketing partners of Memantine for the treatment of moderate-to-severe Alzheimer's disease for the quarter ended September 30, 2007. Under an exclusive marketing agreement, NTI currently receives quarterly royalty payments on sales of Memantine by Merz and its marketing partners.
Paul E. Freiman, President and CEO of Neurobiological Technologies said, "This royalty payment helps provide funding for our ongoing clinical program for Viprinex(TM) (ancrod) and contributes to our strong financial position."
About Neurobiological Technologies, Inc.
Neurobiological Technologies, Inc, (Nasdaq: NTII) is a biopharmaceutical company focused on developing novel, first-in-class agents for central nervous system conditions and other serious unmet medical needs. The Company's most advanced product candidate in phase 3 clinical testing is Viprinex(TM) (ancrod), a novel agent with multiple mechanisms that is specifically designed to expand the treatment window for treating acute ischemic stroke, one of the most prevalent, debilitating and costly diseases in the world for which there are few acceptable treatment options. Its pipeline also includes a drug candidate in early-stage development for Huntington's Disease.
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including our dependence on Merz and its marketing partners and risks relating to our ongoing discussions regarding a possible amendment to our marketing agreement with Merz, as well as other risks detailed from time to time in our Annual Report of Form 10-K and other filings with the Securities and Exchange Commission.
Actual results may differ materially from those projected. These forward-looking statements represent our judgment as of the date of the release. We undertake no obligation to update these forward-looking statements.
|SOURCE Neurobiological Technologies, Inc.|
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