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Celtic Pharma Provides Update on XERECEPT(R) Clinical Program
Date:12/5/2007

EMERYVILLE, Calif., Dec. 5 /PRNewswire-FirstCall/ -- Neurobiological Technologies, Inc. (Nasdaq: NTII) (NTI(R)) today announced that Celtic Pharmaceutical Holdings L.P. ("Celtic Pharma") presented interim results for XERECEPT(R) at the Annual Meeting for the Society of Neuro-Oncology.

Paul Freiman, President and Chief Executive Officer of NTI, stated, "We are pleased with our continuing involvement in the development of XERECEPT and the prospects for this drug, which is so urgently needed."

On December 4, 2007, Celtic Pharma, which acquired the rights and assets related to XERECEPT from NTI in November 2005, issued the following press release:

"New York, London and Bermuda, December 4, 2007 - Celtic Pharmaceutical Holdings L.P. ("Celtic Pharma") today reported interim study results for XERECEPT(R) (human corticotropin-releasing factor (hCRF)), which were presented at the 12th Annual Meeting of the Society for Neuro-Oncology ("SNO"), and provided an update on the XERECEPT(R) clinical development program.

"In a poster presentation at the SNO annual meeting, which took place in Dallas, Texas on November 15-18, 2007, Celtic Pharma disclosed interim results of an on-going, open-label extension trial, which is evaluating the long-term safety and efficacy of XERECEPT(R) as a new potential treatment for Peritumoral Brain Edema ("PBE"), or tumor-related brain swelling. The data presented at SNO demonstrated that 20 of the first 32 patients enrolled received XERECEPT(R) daily for at least 20 weeks. XERECEPT(R) was well- tolerated. Nine of the 20 patients discontinued dexamethasone altogether, and steroid side effects were resolved or improved in the majority of patients who received a reduced dexamet
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SOURCE Neurobiological Technologies, Inc.
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