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

EMERYVILLE, Calif., Oct. 31 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 of moderate-to-severe Alzheimer's disease for the quarter ended June 30, 2007. Thisrepresents a 27% increase in NTI's royalty payments compared to the samequarter last year, and a 6% increase over last quarter. Under an exclusivemarketing agreement, NTI receives quarterly royalty payments on sales ofMemantine by Merz and its marketing partners.

About Neurobiological Technologies, Inc.

NTI is a specialty biopharmaceutical company with expertise in identifyingand acquiring promising drug candidates and in designing and managing late-stage clinical trials for central nervous system conditions. The Company iscurrently developing Viprinex(TM) (ancrod), a novel reperfusion agent that isin pivotal Phase 3 trials for the treatment of acute ischemic stroke.

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 other risks detailed from time to time in our Annual Report ofForm 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. Weundertake no obligation to update these forward-looking statements.

SOURCE Neurobiological Technologies, Inc.

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