Neurobiological Technologies Reports Receipt of $2 Million Royalty Payment for Quarterly Sales of Memantine
November 03 2008 - 7:00AM
PR Newswire (US)
EMERYVILLE, Calif., Nov. 3 /PRNewswire-FirstCall/ --
Neurobiological Technologies, Inc. (NTI(R)) (NASDAQ:NTII), today
announced it has received a quarterly royalty payment of
approximately $2.0 million from Merz Pharmaceuticals GmbH (Merz)
for sales of Memantine for the treatment of moderate-to-severe
Alzheimer's disease. Under an exclusive marketing agreement, NTI
currently receives quarterly royalty payments on certain sales of
Memantine by Merz and its marketing partners. 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, Viprinex(TM) (ancrod), is in Phase 3 clinical
testing as a novel investigational drug for the treatment of acute
ischemic stroke. Viprinex has multiple mechanisms of action and is
specifically designed to extend the time period that patients can
be treated after the onset of a stroke. Acute ischemic stroke is
one of the most prevalent, debilitating and costly diseases in the
world for which there are few acceptable treatment options. NTI
also has early-stage development programs for Alzheimer's and
Huntington's diseases and rights to receive payments on an approved
drug for Alzheimer's disease and an investigational drug in Phase 3
trials for brain swelling. DATASOURCE: Neurobiological
Technologies, Inc. CONTACT: Matthew M. Loar, Chief Financial
Officer of Neurobiological Technologies, Inc., +1-510-595-6000 Web
site: http://www.ntii.com/
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