NTII Neurobiological Technologies (MM)

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CUSIP No. 64124W304 13G Page 2 of 9 Pages
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 1. NAMES OF REPORTING PERSONS

 Great Point Partners, LLC

 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):

 37-1475292

 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 (a) [ ]

 (b) [ ]


 3. SEC USE ONLY

 4. CITIZENSHIP OR PLACE OF ORGANIZATION

 USA

 NUMBER OF SHARES 5. SOLE VOTING POWER
 BENEFICIALLY 0
 OWNED BY EACH 6. SHARED VOTING POWER
 REPORTING PERSON 2,127,357
 WITH
 7. SOLE DISPOSITIVE POWER
 0

 8. SHARED DISPOSITIVE POWER
 2,127,357

 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 2,127,357

 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
 (See Instructions) [ ]

 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 7.8%

 12. TYPE OF REPORTING PERSON (See Instructions)

 OO

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CUSIP No. 64124W304 13G Page 3 of 9 Pages
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 1. NAMES OF REPORTING PERSONS

 Dr. Jeffrey R. Jay, M.D.

 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):


 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 (a) [ ]

 (b) [ ]


 3. SEC USE ONLY

 4. CITIZENSHIP OR PLACE OF ORGANIZATION

 USA

 NUMBER OF SHARES 5. SOLE VOTING POWER
 BENEFICIALLY 0
 OWNED BY EACH
 REPORTING PERSON 6. SHARED VOTING POWER
 WITH
 2,127,357

 7. SOLE DISPOSITIVE POWER
 0

 8. SHARED DISPOSITIVE POWER

 2,127,357

 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 2,127,357

 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
 (See Instructions) [ ]

 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 7.8%

 12. TYPE OF REPORTING PERSON (See Instructions)

 IN

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CUSIP No. 64124W304 13G Page 4 of 9 Pages
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 1. NAMES OF REPORTING PERSONS

 Mr. David Kroin

 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):


 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
 (a) [ ]

 (b) [ ]


 3. SEC USE ONLY

 4. CITIZENSHIP OR PLACE OF ORGANIZATION

 USA

 NUMBER OF SHARES 5. SOLE VOTING POWER
 BENEFICIALLY 0
 OWNED BY EACH
 REPORTING PERSON 6. SHARED VOTING POWER
 WITH
 2,127,357

 7. SOLE DISPOSITIVE POWER

 0

 8. SHARED DISPOSITIVE POWER

 2,127,357

 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 2,127,357

 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
 (See Instructions) [ ]

 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 7.8%

 12. TYPE OF REPORTING PERSON (See Instructions)

 IN

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CUSIP No. 64124W304 13G Page 5 of 9 Pages
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 ITEM 1.

 (a) Name of Issuer

 Neurobiological Technologies, Inc.

 (b) Address of Issuer's Principal Executive Offices

 2000 Powell Street, Suite 800, Emeryville, California 94608

 ITEM 2.

 (a) Name of Person Filing

 Great Point Partners, LLC
 Dr. Jeffrey R. Jay, M.D.
 Mr. David Kroin

 The Reporting Persons have entered into a Joint Filing Agreement,
 dated November 14, 2007, a copy of which is filed with this Schedule
 13G as Exhibit A, pursuant to which the Reporting Persons have
 agreed to file this statement jointly in accordance with the
 provisions of Rule 13d-1(k)(1) under the Act.

 (b) Address of Principal Business Office, or if none, Residence

 The address of the principal business office of each of the
 Reporting Persons is

 165 Mason Street, 3rd Floor
 Greenwich, CT 06830

 (c) Citizenship

 Great Point Partners, LLC is a limited liability company organized
 under the laws of the State of Delaware. Dr. Jeffrey R. Jay, M.D. is
 a citizen of the United States. Mr. David Kroin is a citizen of the
 United States.

 (d) Title of Class of Securities

 Common Stock

 (e) CUSIP Number

 64124W304

 ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SS.240.13D-1(b) OR
 240.13D.2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A:

 Not Applicable.

 (a) [ ] Broker or dealer registered under Section 15 of the Act
 (15 U.S.C. 78o)

 (b) [ ] Bank as defined in Section 3(a)(6) of the Act
 (15 U.S.C. 78c).

 (c) [ ] Insurance company as defined in Section 3(a)(19)
 of the Act (15. U.S.C. 78c).

 (d) [ ] Investment Company registered under Section 8 of the
 Investment Company Act of 1940 (15 U.S.C. 80a-8).

 (e) [ ] An investment adviser in accordance with
 ss.240.13d-1(b)(1)(ii)(E).

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CUSIP No. 64124W304 13G Page 6 of 9 Pages
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 (f) [ ] An employee benefit plan or endowment fund in
 accordance with ss.240.13d-1(b)(1)(ii)(F).

 (g) A parent holding company or control person in
 accordance with ss.240.13d-1(b)(1)(ii)(G).

 (h) A savings associations as defined in Section
 3(b) of the Federal Deposit Insurance Act (12
 U.S.C. 1813).

 (i) A church plan that is excluded from the
 definition of an investment company under
 Section 3(c)(14) of the Investment Company Act
 of 1940 (15 U.S.C. 80a-3).

 (j) Group, in accordance with
 ss.240.13d-1(b)(1)(ii)(J).

 ITEM 4. OWNERSHIP

 Biomedical Value Fund, L.P. ("BMVF") is the direct
 beneficial owner of 1,148,773 shares (the "BMVF Shares"),
 consisting of 1,031,382 shares of Common Stock and warrants
 to purchase 117,391 shares of Common Stock. Great Point
 Partners, LLC ("Great Point") is the investment manager of
 BMVF, and by virtue of such status may be deemed to be the
 beneficial owner of the BMVF Shares. Each of Dr. Jeffrey R.
 Jay, M.D. ("Dr. Jay"), as senior managing member of Great
 Point, and Mr. David Kroin ("Mr. Kroin"), as special
 managing member of Great Point, has voting and investment
 power with respect to the BMVF Shares, and therefore may be
 deemed to be the beneficial owner of the BMVF Shares.

 Biomedical Offshore Value Fund, Ltd. ("BOVF") is the direct
 beneficial owner of 978,584 shares (the "BOVF Shares"),
 consisting of 878,584 shares of Common Stock and warrants to
 purchase 100,000 shares of Common Stock. Great Point is the
 investment manager of BOVF, and by virtue of such status may
 be deemed to be the beneficial owner of the BOVF Shares.
 Each of Dr. Jay, as senior managing member of Great Point,
 and Mr. Kroin, as special managing member of Great Point,
 has voting and investment power with respect to the BOVF
 Shares, and therefore may be deemed to be the beneficial
 owner of the BOVF Shares.

 Notwithstanding the above, Great Point, Dr. Jay and Mr.
 Kroin disclaim beneficial ownership of the BMVF Shares and
 the BOVF Shares, except to the extent of their respective
 pecuniary interests.


 Provide the following information regarding the aggregate
 number and percentage of the class of securities of the
 issuer identified in Item 1.

 1. GREAT POINT PARTNERS, LLC

 (a) Amount beneficially owned: 2,127,357

 (b) Percent of class: 7.8%

 (c) Number of shares as to which the person has:

 (i) Sole power to vote or to direct the vote: - 0 -

 (ii) Shared power to vote or to direct the vote: 2,127,357

 (iii) Sole power to dispose or to direct the disposition
 of: - 0 -.

 (iv) Shared power to dispose or to direct the disposition
 of: 2,127,357

 2. DR. JEFFREY R. JAY, M.D.

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CUSIP No. 64124W304 13G Page 7 of 9 Pages
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 (a) Amount beneficially owned: 2,127,357

 (b) Percent of class: 7.8%

 (c) Number of shares as to which the person has:

 (i) Sole power to vote or to direct the vote: 0.

 (ii) Shared power to vote or to direct the vote: 2,127,357

 (iii) Sole power to dispose or to direct the disposition of:
 0.

 (iv) Shared power to dispose or to direct the disposition
 of: 2,127,357

 3. MR. DAVID KROIN

 (a) Amount beneficially owned: 2,127,357

 (b) Percent of class: 7.8%

 (c) Number of shares as to which the person has:

 (i) Sole power to vote or to direct the vote: 0.

 (ii) Shared power to vote or to direct the vote: 2,127,357

 (iii) Sole power to dispose or to direct the disposition of:
 0.

 (iv) Shared power to dispose or to direct the disposition
 of: 2,127,357


 ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

 Not Applicable.

 ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON:

 See Item 4.

 ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
 THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY

 Not Applicable.

 ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP

 Not Applicable.

 ITEM 9. NOTICE OF DISSOLUTION OF GROUP

 Not Applicable.

 ITEM 10. CERTIFICATION

By signing below I certify that, to the best of my knowledge and belief, the
securities referred to above were not acquired and are not held for the purpose
of or with the effect of changing or influencing the control of the issuer of
the securities and were not acquired and are not held in connection with or as
participant in any transaction having that purpose or effect.

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CUSIP No. 64124W304 13G Page 8 of 9 Pages
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 SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.

Date: November 14, 2007


 GREAT POINT PARTNERS, LLC

 By: /s/ Dr. Jeffrey R. Jay, M.D.
 ----------------------------------------
 Dr. Jeffrey R. Jay, M.D.,
 as senior managing member


 /s/ Dr. Jeffrey R. Jay, M.D.
 ---------------------------------------------
 DR. JEFFREY R. JAY, M.D.


 /s/ Mr. David Kroin
 ---------------------------------------------
 Mr. David Kroin