"We are very pleased to have recently and successfully passed our fifth Data Safety Monitoring Board assessment of the Viprinex(TM) phase 3 clinical trials that are currently underway," stated Paul E. Freiman, president and chief executive officer of NTI. "In addition, during the quarter we signed an agreement with the Buck Institute for Age Research that provides us development rights to an exciting compound in early development for the potential treatment of Alzheimer's disease. We also amended our agreement with Merz Pharmaceuticals and Children's Medical Center Corporation, effectively lengthening the term for which they are committed to pay us royalties on the sales of memantine, although at a lower rate than we received previously."
"Looking forward, we are excited about the prospects for our key asset, Viprinex, which has the potential to be the first new drug approved for the treatment of stroke in over ten years," continued Mr. Freiman. "Our main focus as a company is the development of this drug candidate, and the development of this asset is where substantially all of our operating funds are being spent. We believe Viprinex has the potential to double the treatment window over the current approved drug, while at the same time reducing the major side effect of symptomatic intracranial hemorrhage."
Conference Call Information
NTI will webcast its quarterly financial results and host a conference
call on Tuesday, May 13, 2008 at 10:30 a.m. (ET), 7:30 a.m. (PT). Dial-in
number (877) 591-4953 (U.S. and Canada) and 719-325-4851 (International).
The live webcast can be accessed by going to
http://investor.shareholder.com/ntii/events.cfm . A playback of the
conference call will be available from 1:30 p.m
|SOURCE Neurobiological Technologies, Inc.|
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