EMERYVILLE, Calif., Feb. 1 /PRNewswire-FirstCall/ -- Neurobiological Technologies, Inc. today announced that it had received a royalty payment of $1,365,850 million from Merz Pharmaceuticals GmbH (Merz) for sales in the quarter ended September 30, 2005 of Memantine for the treatment of moderate-to-severe Alzheimer’s disease. Under an exclusive marketing agreement, NTI receives royalty payments on sales of Memantine by Merz and its marketing partners.
Paul E. Freiman, President and CEO said, “NTI continues to be amongst a small minority of biotech companies receiving royalty income from a marketed product. Cash is the life’s blood of this industry and these quarterly payments from Merz are a real plus in our ability to advance our development efforts.”
About Neurobiological Technologies, Inc.
Neurobiological Technologies, Inc. is a biotechnology company engaged in the business of acquiring and developing central nervous system related drug candidates. The company is focused on therapies for neurological conditions that occur in connection with dementia, Alzheimer’s disease, ischemic stroke, neuropathic pain, and brain cancer. For further information, please visit NTI’s website at www.ntii.com.
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including risks associated with our dependence on Merz and its marketing partners, as well as 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 this 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.,+1-510-595-6000
Web site: http://www.ntii.com//
