Neurobiological gets $1.4M royalty for memantine
California, USA-based Neurobiological Technologies, that it had received a royalty payment of nearly $1.4 million from Merz Pharmaceuticals GmbH for sales in the quarter ended September 30, 2005, of memantine for the treatment of moderate-to-severe Alzheimer's disease. Under an exclusive marketing agreement, NT receives royalty payments on sales of memantine by Merz and its marketing partners.
Paul E. Freiman, chief executive of the US firm, said, "NTI continues to be amongst a small minority of biotech companies receiving royalty income from a marketed product. Cash is the life's blood of this industry and these quarterly payments from Merz are a real plus in our ability to advance our development efforts."
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