Neurobiological Technologies agrees $10 million credit facility with Comerica

By Kimberly N. Alleyne

Stroudsburg, Pa., Aug. 23 - Neurobiological Technologies, Inc. announced Tuesday that it has established a $10 million revolving credit facility with Comerica Bank.

The line of credit will mature in two years with what the company called "a competitive," prime-based interest rate.

"We are very pleased to have established this credit facility with Comerica Bank who will be a strong partner with NTI," said Paul Freiman, company president and. "This $10 million will provide additional working capital, and reflects our ability to continue building a solid financial framework in support of our strategy to acquire and develop late-stage drug products."

Neurobiological, headquartered in Emeryville, Calif., is a biotechnology company engaged in the business of acquiring and developing central nervous system-related drug candidates.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.