www.fdanews.com/articles/81051-neurobiological-to-sell-brain-tumor-compound-rights-for-33-mln
NEUROBIOLOGICAL TO SELL BRAIN TUMOR COMPOUND RIGHTS FOR $33 MLN
September 21, 2005
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.