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Neurobiological Technologies, Inc. Executive Vice President Resigns
September 19, 1997 04:45 PM
RICHMOND, Calif., Sept. 19 /PRNewswire/ -- Jeffrey S. Price, Ph.D. has resigned as Executive Vice President and as a Director of Neurobiological Technologies, Inc. NTII , continuing a transition that began May 8th when Paul Freiman, former Chairman of Syntex, Inc. was appointed President and CEO of NTI.
Mr. Freiman stated, "Dr. Price has contributed greatly to the transition from his stewardship to mine. We at NTI are pleased that he will be following his desire to pursue drug discovery research, and, as a consultant to the company, we will continue to benefit from his drug development expertise."
Dr. Price commented, "The opportunity to work with the NTI team since 1990 has been a great experience. Knowing that I leave NTI in good hands, I look forward to the company's future successes."
NTII is an emerging drug development company focused on the clinical testing of potential therapeutic products based on advances in neuroscience research. The company's strategy is to in-license early-stage products that have the potential to preserve neurological function by protecting nerve cells from injury. NTII is currently developing two product candidates. Xerecept(TM) is the company's synthetic preparation of the human peptide Corticotropin-Releasing Factor. Xerecept is being developed for reduction of cerebral edema associated with brain cancer and for treatment of traumatic brain injury. Memantine is being developed as a potential neuroprotective agent. Dynorphin A, another human peptide previously tested as an analgesic agent, is available for out-licensing.
NOTE: Except for the historical information contained herein, the matters discussed in this press release are forward looking statements that involve risks and uncertainties, including the company's ability to raise capital to fund operations, properly design, implement, and complete planned trials, meet regulatory requirements, demonstrate safety and efficacy for its products, manage third party contractors, and avoid infringement of third party proprietary rights, as well as other risks detailed from time to time in the company's Securities and Exchange Commission filings. Actual results may differ materially from those projected. These forward looking statements represent the company's judgment as of the date of this release. The company disclaims, however, any intent or obligation to update these forward looking statements. SOURCE Neurobiological Technologies, Inc. |
