Neurobiological receives $1.4 million royalty payment for Memantine

By Lisa Kerner

Erie, Pa., Feb. 1 - Neurobiological Technologies, Inc. received a royalty payment of $1,365,850 from Merz Pharmaceuticals GmbH for sales in the quarter ended Sept. 30 of Memantine for the treatment of moderate-to-severe Alzheimer's disease.

Under an exclusive marketing agreement, Neurobiological Technologies receives royalty payments on sales of Memantine by Merz and its marketing partners, according to a company news release.

"NTI continues to be amongst a small minority of biotech companies receiving royalty income from a marketed product," Paul E. Freiman, Neurobiological Technologies president and chief executive officer, said in the release. "Cash is the life's blood of this industry and these quarterly payments from Merz are a real plus in our ability to advance our development efforts."

Neurobiological Technologies is a biotechnology company focused on therapies for neurological conditions that occur in connection with dementia, Alzheimer's disease, ischemic stroke, neuropathic pain and brain cancer. The company is based in Emeryville, Calif.

Merz is a health care company based in Frankfurt, Germany.

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