Neurobiological Technologies, Inc. and Buck Institute Partner to Develop Novel Treatment for Alzheimer's Disease

Emeryville, CA and Novato, CA March 3, 2008  Neurobiological Technologies, Inc. (NASDAQ: NTII) and the Buck Institute for Age Research (Buck) announced today they have entered into a collaboration and exclusive license agreement to develop a novel therapy for Alzheimer’s Disease (AD). Under the terms of the agreement Neurobiological Technologies will exclusively license certain patent rights related to a naturally occurring protein that has been shown in animals to reverse the symptoms of Alzheimer’s disease.

AD is a neurodegenerative disease that, in its most common form, occurs in people over 65 years old and is the most common cause of dementia afflicting 24 million people worldwide.

AD Research at the Buck Institute focuses on signal transduction pathways that may explain all of the different, yet seemingly opposed theories of AD, namely that AD is caused by either an overabundance of amyloid-β (Aβ) peptide, or neurofibrillary tangles that build up inside the nerve cells.  Current studies at the Buck are focused on a naturally occurring protein that has been shown in both cell culture and mice to inhibit the production of amyloid-β (Aβ) peptides while simultaneously facilitating the growth and preservation of nerve fibers in the brain.

As part of this agreement, Neurobiological Technologies has agreed to fund a joint research collaboration with the Buck relating to the Alzheimer’s drug development for up to three years. Research funding for the initial year under the Agreement will total $1.2 million.  In consideration for the license, Neurobiological Technologies will pay upfront license fees totaling $175,000 over a three-year period.

“The partnership with the Buck Institute has the potential to expand our pipeline of product candidates in central nervous system disorders,” said Paul E. Freiman, President and CEO of Neurobiological Technologies. “We look forward to applying our resources and expertise in drug development to this partnership and working to bring this important AD research from the lab to the clinic.”

Neurobiological Technologies has been collaborating with Buck since December 2007 to develop a new drug for the treatment of Huntington’s disease involving fibroblast growth factor-2 (FGF-2), a naturally occurring protein that has been studied extensively for its neuroprotective properties.  This agreement is the second collaboration between Neurobiological Technologies and Buck focused on central nervous system conditions.

“With these resources and the support from Neurobiological Technologies, we are well positioned to realize our shared goal of developing drugs to bring new hope to patients suffering from AD,” said Remy Gross, Buck Institute Director of Business Development. “We look forward to this second important research and development partnership for underserved CNS disorders that affect an increasing number of people worldwide.”

About the Buck Institute
The Buck Institute is an independent non-profit organization dedicated to extending the healthspan, the healthy years of each individual’s life.  The National Institute of Aging designated the Buck a Nathan Shock Center of Excellence in the Biology of Aging, one of just five centers in the country. Buck Institute scientists work in an innovative, interdisciplinary setting to understand the mechanisms of aging and to discover new ways of detecting, preventing and treating age-related diseases such as Alzheimer’s and Parkinson’s disease, cancer, stroke, and arthritis.  Collaborative research at the Institute is supported by genomics, proteomics and bioinformatics technology.

About Neurobiological Technologies
Neurobiological Technologies, Inc, (NASDAQ: NTII) is a biopharmaceutical company focused on developing novel, first-in-class agents for central nervous system conditions and other serious unmet medical needs. The Company’s most advanced product candidate in phase 3 clinical testing is Viprinex™ (ancrod), a novel agent with multiple mechanisms that is specifically designed to expand the treatment window for treating acute ischemic stroke, one of the most prevalent, debilitating and costly diseases in the world for which there are few acceptable treatment options.  Its pipeline includes other drug candidates in early-stage development, including a first-of-its- kind drug for the treatment of Alzheimer's disease.

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