EMERYVILLE, Calif., Nov. 1 /PRNewswire-FirstCall/ -- Neurobiological Technologies, Inc. today announced that it had received a royalty payment of $1,268,271 from Merz Pharmaceuticals GmbH (Merz) for sales of Memantine for the treatment of moderate-to-severe Alzheimer’s disease for the quarter ended June 30, 2005. NTI receives royalty payments, pursuant to its strategic research and marketing cooperation agreement with Merz, on sales of Memantine by Merz and its marketing partners, Forest Laboratories, Inc. and H. Lundbeck A/S.
Paul E. Freiman, president and CEO of NTI said, “These quarterly royalty payments are a reflection of the success of Memantine, a product which we anticipate continued growth ahead. This quarter’s payment is the largest we have received to date.”
About Neurobiological Technologies, Inc.
NTI is an emerging drug development company focused on the clinical evaluation and regulatory approval of neuroscience drugs. The company’s strategy is to in-license and develop early- and later-stage drug candidates that target major medical needs and which can be rapidly commercialized. NTI’s experienced management team oversees the human clinical trials necessary to establish preliminary evidence of efficacy and seeks partnerships with pharmaceutical and biotechnology companies to complete development and marketing of its product candidates.
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 third parties for the development, regulatory approval and successful commercialization of our products, the inherent risk of failure in developing product candidates based on new technologies, risks associated with the costs of clinical development efforts, and other risks detailed from time to time in our Securities and Exchange Commission filings. Actual results may differ materially from those projected. These forward-looking statements represent our judgment as of the date of the release. We disclaim, however, any intent or obligation to update these forward-looking statements.
Neurobiological Technologies, Inc.
CONTACT: Paul E. Freiman, President & CEO, or Jonathan R. Wolter, VicePresident & CFO, both of Neurobiological Technologies, Inc.,+1-510-595-600; or Cheryl Schneider, VP - Investor Relations of Porter, LeVay & Rose, Inc., +1-212-564-4700
Web site: http://www.ntii.com/