Neurobiological, Nordmark in deal to produce raw snake venom

By Lisa Kerner

Erie, Pa., Jan. 24 - Neurobiological Technologies, Inc. said it contracted with Nordmark Arzneimittel GmbH & Co. KG to establish a snake farm and a purification unit for the supply of raw venom of the Malayan pit viper, a starting material for Neurobiological's Viprinex (Ancrod) clinical material.

Neurobiological will make payments to Nordmark of €1.75 million toward the costs of the snake farm and purification unit, both of which will be owned and operated by Nordmark.

Under the agreement, Neurobiological will reimburse Nordmark for certain operating costs and make an additional payment of up to €2.25 million for the facilities under certain terms and conditions.

The agreement between the two companies will continue for a term of 10 years.

Neurobiological Technologies is a biotechnology company engaged in the acquisition and development of central nervous system related drug candidates. The company is based in Emeryville, Calif.

Nordmark is based in Uetersen, Germany.

Terms of agreement were disclosed in an 8-K filing with the Securities and Exchange Commission.

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