Neurobiological Technologies gets $1.4 million royalty payment from Merz for Memantine sales

By Lisa Kerner

Erie, Pa., May 1 - Neurobiological Technologies, Inc. (NTI) received a quarterly royalty payment of $1.4 million from Merz Pharmaceuticals GmbH for fourth-quarter 2005 sales of Memantine for the treatment of Alzheimer's disease.

NTI receives royalty payments on sales of Memantine by Merz and its marketing partner under an exclusive marketing agreement.

"These quarterly royalty payments are clearly a valuable asset to NTI in the funding of our pipeline products," president and chief executive officer Paul E. Freiman said in a news release.

NTI is an Emeryville, Calif., biotechnology company focused on therapies for neurological conditions.

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