Neurobiological Technologies, Inc. Reports Receipt of $1.5 Million Royalty Payment for Quarterly Sales of Memantine
Published: May 04, 2009
EMERYVILLE, Calif., May 1 /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 historically focused on developing investigational drugs for central nervous system conditions. The company recently terminated development of its most advanced product candidate, Viprinex(TM) (ancrod), which was studied in Phase 3 clinical trials as a potential new drug to treat acute ischemic stroke. NTI has more recently chosen not to extend its early-stage research programs for Huntington's and Alzheimer's diseases. NTI has rights to receive payments from 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, VP & CFO of Neurobiological Technologies, Inc.,
Web site: http://www.ntii.com/