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Neurobiological Technologies, Inc. (NTII) Reports Receipt of $1.5 Million Royalty Payment for Quarterly Sales of Memantine



2/3/2009 8:26:16 AM

EMERYVILLE, Calif., Feb. 3 /PRNewswire-FirstCall/ -- Neurobiological Technologies, Inc. (NTI(R)) , today announced it has received a quarterly royalty payment of approximately $1.5 million from Merz Pharmaceuticals GmbH (Merz) for sales of Memantine for the treatment of Alzheimer's disease. Under an exclusive marketing agreement, NTI currently receives quarterly royalty payments on certain sales of Memantine by Merz and its marketing partners.

About Neurobiological Technologies, Inc.

Neurobiological Technologies, Inc. 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 recently terminated development of its most advanced product candidate, Viprinex(TM) (ancrod), which was studied in Phase 3 clinical trials for evaluation as a new drug to treat acute ischemic stroke. NTI has an early-stage development program for Alzheimer's disease and rights to receive payments on an approved drug for Alzheimer's disease and an investigational drug which has recently completed a Phase 3 trial for brain swelling.

CONTACT: Matthew M. Loar, CFO of Neurobiological Technologies, Inc.,
+1-510-595-6000

Web site: http://www.ntii.com/


Read at BioSpace.com

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