Advertisement
"Matt has a proven track record as a chief financial officer, and we willlook to his expertise to help guide our financial and business strategy," saidPaul E. Freiman, President and Chief Executive Officer of NeurobiologicalTechnologies. "His wealth of experience in helping to run several businessescombined with his knowledge of industry accounting requirements, SECcompliance and the biotech investment community will be real assets as ourteam continues to advance our strategic vision."
Advertisement
Mr. Loar is a Certified Public Accountant and has over twenty yearsexperience in finance and accounting. Mr. Loar has a strong track recordworking with growing pharmaceutical and biotechnology companies, and hasplayed a key role in several major corporate collaborations, successfullycompleting public and private equity financings and implementing theprovisions of Sarbanes-Oxley Act at a public biotechnology company.
"NTI has a strong management team, a unique product development strategy,and tremendous potential for their phase 3 investigational drug, Viprinex(TM).
I look forward to becoming a key contributor to their future growth," said Mr.Loar. "NTI's efforts to develop new and improved central nervous systemtherapeutics are indeed exciting, and I'm anxious to start working with theother members of NTI's team to maximize the organization's overall potential."
Since the fall of 2006, Mr. Loar held the position of Chief FinancialOfficer at Osteologix, Inc. Prior to his tenure at Osteologix, he spenteleven years with Genelabs Technologies, Inc. where he held several positions,including Chief Financial Officer, Vice President of Finance and Controller.Earlier in his career, from 1991 through 1995, Mr. Loar was CorporateAccounting Manager for an international manufacturing company withapproximately $500 million in annual product sales. From 1986 to 1991 he wasaudit manager with Coopers & Lybrand, a predecessor firm toPriceWaterhouseCoopers. Mr. Loar graduated from the University of California,Berkeley and is a member of the American Institute of CPAs. He is a member ofFinancial Executives International and for two years served as treasurer oftheir Silicon Valley Chapter.
As an inducement to his entering into employment with the Company, Mr.Loar was awarded an option in accordance with NASDAQ Marketplace Rule4350(i)(1)(A)(iv) to purchase up to 150,000 shares of the Company's commonstock outside of the Company's stockholder-approved equity incentive plans, atan exercise price per share equal to the fair market value of the Company'scommon stock on April 1, 2008. The inducement option, which will have a termof 10 years, will vest with respect to one-eighth of the underlying shares sixmonths after the date of grant and then with respect to the remaining sharesratably over the next 42 months.
About Neurobiological Technologies
Neurobiological Technologies, Inc, (Nasdaq: NTII) is a biopharmaceuticalcompany focused on developing novel, first-in-class agents for central nervoussystem conditions and other serious unmet medical needs. The Company's mostadvanced product candidate in phase 3 clinical testing is Viprinex(TM)(ancrod), a novel agent with multiple mechanisms that is specifically designedto expand the treatment window for treating acute ischemic stroke, one of themost prevalent, debilitating and costly diseases in the world for which thereare few acceptable treatment options. Its pipeline includes other drugcandidates in early-stage development, including a
