Neurobiological Technologies Reports Receipt of $1.5 Million Royalty Payment for Quarterly Sales of Memantine
01 Maggio 2009 - 1:00PM
PR Newswire (US)
EMERYVILLE, Calif., May 1 /PRNewswire-FirstCall/ -- Neurobiological
Technologies, Inc. (NTI(R)) (NASDAQ:NTII), today announced it has
received a quarterly royalty payment of approximately $1.5 million
from Merz Pharmaceuticals GmbH (Merz) for sales of Memantine for
the treatment of 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. is a biopharmaceutical company historically
focused on developing investigational drugs for central nervous
system conditions. The company recently terminated development of
its most advanced product candidate, Viprinex(TM) (ancrod), which
was studied in Phase 3 clinical trials as a potential new drug to
treat acute ischemic stroke. NTI has more recently chosen not to
extend its early-stage research programs for Huntington's and
Alzheimer's diseases. NTI has rights to receive payments from an
approved drug for Alzheimer's disease and an investigational drug
which has recently completed a Phase 3 trial for brain swelling.
http://www.ntii.com/ DATASOURCE: Neurobiological Technologies, Inc.
CONTACT: Matthew M. Loar, VP & CFO of Neurobiological
Technologies, Inc., +1-510-595-6000 Web Site: http://www.ntii.com/
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