Neurobiological Technologies Reports $2.1 Million Quarterly Payment for Sales of Memantine

Wednesday, February 20, 2008 General News
Email Print This Page Comment
Font : A-A+

EMERYVILLE, Calif., Feb. 20 NeurobiologicalTechnologies, Inc. (NTI(R)) (Nasdaq: NTII), today announced it has receivedapproximately $2.1 million from Merz Pharmaceuticals GmbH (Merz) for sales byMerz and its marketing partners of Memantine for the treatment ofmoderate-to-severe Alzheimer's disease for the quarter ended September 30,2007. Under an exclusive marketing agreement, NTI currently receives quarterlyroyalty payments on sales of Memantine by Merz and its marketing partners.

Paul E. Freiman, President and CEO of Neurobiological Technologies said,"This royalty payment helps provide funding for our ongoing clinical programfor Viprinex(TM) (ancrod) and contributes to our strong financial position."

About Neurobiological Technologies, Inc.

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 also includes a drugcandidate in early-stage development for Huntington's Disease.

Forward-Looking Statements

Except for the historical information contained herein, the mattersdiscussed in this press release are forward-looking statements that involverisks and uncertainties, including our dependence on Merz and its marketingpartners and risks relating to our ongoing discussions regarding a possibleamendment to our marketing agreement with Merz, as well as other risksdetailed from time to time in our Annual Report of Form 10-K and other filingswith the Securities and Exchange Commission.

Actual results may differ materially from those projected. Theseforward-looking statements represent our judgment as of the date of therelease. We undertake no obligation to update these forward-lookingstatements.

SOURCE Neurobiological Technologies, Inc.


Post your Comments

Comments should be on the topic and should not be abusive. The editorial team reserves the right to review and moderate the comments posted on the site.
* Your comment can be maximum of 2500 characters
I agree to the terms and conditions

News A - Z

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

News Search

Medindia Newsletters

Subscribe to our Free Newsletters!

Terms & Conditions and Privacy Policy.

Advertisement

Press Release Category

Press Release Archive

Stay Connected

  • Available on the Android Market
  • Available on the App Store

Facebook