Home » Neurobiological Technologies Receives $1.1 Million Royalty
Neurobiological Technologies Receives $1.1 Million Royalty
Neurobiological Technologies said that it received a $1.1 million royalty payment from partner Merz Pharmaceuticals GmbH for sales of Memantine, a drug used to treat moderate-to-severe Alzheimer's disease. The sales occurred in the first quarter of 2005. Neurobiological Technologies CEO Paul Freiman said in a statement that the payment was the first royalty payment to exceed $1 million under the marketing agreement with Merz. The Richmond biotechnology company will use the money to fund two experimental treatments the company is studying in late-stage clinical trials, according to Freiman.
East Bay Business Times
(http://www.bizjournals.com/eastbay/stories/2005/05/02/daily3.html)
KEYWORDS FDAnews Drug Daily Bulletin
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