Neurobiological Technologies Reports $2.1 Million Quarterly Payment for Sales of Memantine
February 20 2008 - 7:00AM
PR Newswire (US)
EMERYVILLE, Calif., Feb. 20 /PRNewswire-FirstCall/ --
Neurobiological Technologies, Inc. (NTI(R)) (NASDAQ:NTII), 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 September 30, 2007. Under
an exclusive marketing agreement, NTI currently receives quarterly
royalty 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 program for Viprinex(TM) (ancrod) and
contributes to our strong financial position." About
Neurobiological Technologies, Inc. Neurobiological Technologies,
Inc, (NASDAQ:NTII) is a biopharmaceutical company focused on
developing novel, first-in-class agents for central nervous system
conditions and other serious unmet medical needs. The Company's
most advanced product candidate in phase 3 clinical testing is
Viprinex(TM) (ancrod), a novel agent with multiple mechanisms that
is specifically designed to expand the treatment window for
treating acute ischemic stroke, one of the most prevalent,
debilitating and costly diseases in the world for which there are
few acceptable treatment options. Its pipeline also includes a drug
candidate in early-stage development for Huntington's Disease.
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
risks relating to our ongoing discussions regarding a possible
amendment to our marketing agreement with Merz, as well as 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. DATASOURCE: Neurobiological
Technologies, Inc. CONTACT: Craig W. Carlson, Chief Financial
Officer of Neurobiological Technologies, Inc., +1-510-595-6000 Web
site: http://www.ntii.com/
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