Home » NEUROBIOLOGICAL TO SELL BRAIN TUMOR COMPOUND RIGHTS FOR $33 MLN
NEUROBIOLOGICAL TO SELL BRAIN TUMOR COMPOUND RIGHTS FOR $33 MLN
Neurobiological Technologies Inc. (NTII.O: Quote, Profile, Research) on Tuesday said it agreed to sell worldwide rights in Xerecept, a phase III clinical compound for the treatment for swelling associated with brain tumors, to Celtic Pharma Holdings L.P. for $33 million. Under the terms of the agreement, Neurobiological will receive $20 million upon closing and an additional $13 million in subsequent non-contingent payments, the companies said in separate news releases.
KEYWORDS Daily International Pharma Alert
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