NEUROBIOLOGICAL TECHNOLOGIES, INC. RECEIVES $4 MILLION MILESTONE PAYMENT FROM CELTIC PHARMA FOR XERECEPT

June 19, 2006

Neurobiological Technologies, Inc. today announced it has received $4 million from Celtic Pharmaceutical Holdings L.P. (Celtic Pharma) as part of Neurobiological Technologies' previously announced sale of worldwide rights to Celtic Pharma for Xerecept, a Phase III clinical compound for the treatment of peritumoral brain edema.
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NEUROBIOLOGICAL TECHNOLOGIES, INC. RECEIVES $4 MILLION MILESTONE PAYMENT FROM CELTIC PHARMA FOR XERECEPT

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