EMERYVILLE, Calif., Oct. 31 /PRNewswire-FirstCall/ -- Neurobiological Technologies, Inc. (NTI(R)) , today announced it has received approximately $2.1 million from Merz Pharmaceuticals GmbH (Merz) for sales by Merz and its marketing partners of Memantine for the treatment of moderate-to- severe Alzheimer’s disease for the quarter ended June 30, 2007. This represents a 27% increase in NTI’s royalty payments compared to the same quarter last year, and a 6% increase over last quarter. Under an exclusive marketing agreement, NTI receives quarterly royalty payments on sales of Memantine by Merz and its marketing partners.
About Neurobiological Technologies, Inc.
NTI is a specialty biopharmaceutical company with expertise in identifying and acquiring promising drug candidates and in designing and managing late- stage clinical trials for central nervous system conditions. The Company is currently developing Viprinex(TM) (ancrod), a novel reperfusion agent that is in pivotal Phase 3 trials for the treatment of acute ischemic stroke.
Forward-Looking Statements
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 Merz and its marketing partners and other risks detailed from time to time in our Annual Report of Form 10-K and other filings with the Securities and Exchange Commission. Actual results may differ materially from those projected. These forward- looking statements represent our judgment as of the date of the release. We undertake no obligation to update these forward-looking statements.
CONTACT: Craig W. Carlson, Vice President & Chief Financial Officer of
Neurobiological Technologies, Inc., +1-510-595-6000
Web site: http://www.ntii.com//
