Neurobiological Technologies, Inc. and Buck Institute Partner to Develop Novel Treatment for Alzheimer's Disease
March 03 2008 - 6:30AM
PR Newswire (US)
EMERYVILLE and NOVATO, Calif., March 3 /PRNewswire-FirstCall/ --
Neurobiological Technologies, Inc. (NASDAQ:NTII) and the Buck
Institute for Age Research (Buck) announced today they have entered
into a collaboration and exclusive license agreement to develop a
novel therapy for Alzheimer's Disease (AD). Under the terms of the
agreement Neurobiological Technologies will exclusively license
certain patent rights related to a naturally occurring protein that
has been shown in animals to reverse the symptoms of Alzheimer's
disease. AD is a neurodegenerative disease that, in its most common
form, occurs in people over 65 years old and is the most common
cause of dementia afflicting 24 million people worldwide. AD
Research at the Buck Institute focuses on signal transduction
pathways that may explain all of the different, yet seemingly
opposed theories of AD, namely that AD is caused by either an
overabundance of amyloid-B (AB) peptide, or neurofibrillary tangles
that build up inside the nerve cells. Current studies at the Buck
are focused on a naturally occurring protein that has been shown in
both cell culture and mice to inhibit the production of amyloid-B
(AB) peptides while simultaneously facilitating the growth and
preservation of nerve fibers in the brain. As part of this
agreement, Neurobiological Technologies has agreed to fund a joint
research collaboration with the Buck relating to the Alzheimer's
drug development for up to three years. Research funding for the
initial year under the Agreement will total $1.2 million. In
consideration for the license, Neurobiological Technologies will
pay upfront license fees totaling $175,000 over a three-year
period. "The partnership with the Buck Institute has the potential
to expand our pipeline of product candidates in central nervous
system disorders," said Paul E. Freiman, President and CEO of
Neurobiological Technologies. "We look forward to applying our
resources and expertise in drug development to this partnership and
working to bring this important AD research from the lab to the
clinic." Neurobiological Technologies has been collaborating with
Buck since December 2007 to develop a new drug for the treatment of
Huntington's disease involving fibroblast growth factor-2 (FGF-2),
a naturally occurring protein that has been studied extensively for
its neuroprotective properties. This agreement is the second
collaboration between Neurobiological Technologies and Buck focused
on central nervous system conditions. "With these resources and the
support from Neurobiological Technologies, we are well positioned
to realize our shared goal of developing drugs to bring new hope to
patients suffering from AD," said Remy Gross, Buck Institute
Director of Business Development. "We look forward to this second
important research and development partnership for underserved CNS
disorders that affect an increasing number of people worldwide."
About the Buck Institute The Buck Institute is an independent
non-profit organization dedicated to extending the healthspan, the
healthy years of each individual's life. The National Institute of
Aging designated the Buck a Nathan Shock Center of Excellence in
the Biology of Aging, one of just five centers in the country. Buck
Institute scientists work in an innovative, interdisciplinary
setting to understand the mechanisms of aging and to discover new
ways of detecting, preventing and treating age-related diseases
such as Alzheimer's and Parkinson's disease, cancer, stroke, and
arthritis. Collaborative research at the Institute is supported by
genomics, proteomics and bioinformatics technology. For more
information: http://www.buckinstitute.org/. About Neurobiological
Technologies 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 includes other drug candidates in
early-stage development, including a first-of-its-kind drug for the
treatment of Alzheimer'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 risks relating to the
acquisition of new product candidates and our levels of future
expenditures and capital resources, 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.; Buck Institute for
Age Research CONTACT: Angela Pennington of WeissComm Partners,
+1-415-946-1091, , for NTII; or Kris Rebillot, +1-415-209-2260, ,
for the Buck Institute Web site: http://www.ntii.com/
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