CELTIC PHARMA COMPLETES ACQUISITION OF EXCLUSIVE WORLDWIDE RIGHTS TO XERECEPT

Celtic Pharmaceutical Holdings L.P. ("Celtic Pharma") and Neurobiological Technologies, Inc. (NASDAQ:NTII) ("NTI") today announce the close of Celtic Pharma's acquisition of exclusive worldwide rights to XERECEPT(R), a Phase III clinical compound for the treatment for Peritumoral Brain Edema. The closing of the transaction, which was originally announced on September 20, 2005, follows the receipt of certain third-party consents and the satisfaction of other closing conditions.

Biotech Intelligence (http://www.biotech-intelligence.com/html/html/2c33c729e97bf532879dbe640ba2d075.html)