Neuro-Biotech Corp: Week Recapitulation

BASEL, Switzerland, Feb. 11 /CNW Telbec/ - Neuro-Biotech Corp. (PINKSHEET: MRES) (OTCQB: MRES). The offer the Company received yesterday was a surprise, as we did not consider the reception of such an offer at this stage of our business plan. During the due diligence period, we must ensure that the two licensees that we currently have and those with whom we are negotiating agreements align with the business plans of all parties involved.

Even though its first goal was to look for possible licensees in the 27 countries of the European Union, for the simple reason that all medical expenses are covered by the government, it was a Russian based company, Credo-TM, which signed the first license agreement, followed by a few weeks later by an Israel based company.

Each of the licenses currently in negotiations will respect pre-established terms and conditions based on the ones agreed by the 2 other licensees, with a 10 years contract and a minimum purchase of 500,000 units per year, generating approximate revenues of $27,000,000 per year from every license sold. The 10 years terms has been commonly agreed by the parties in the first agreement, based on the expiry date of the technology patent scheduled for 2022.

Finally, the Company would like to remind its shareholders that during the first commercialization phase of SymPath™, 75,000 units were sold and delivered to Egypt. This first order was immediately followed by a re-order for another 75,000 units. However, this order was never completed. The Company intends from now on to focus on avoiding such situation by creating partnerships through sublicenses throughout the world.

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This release contains statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Act of 1995. Certain statements in this press release may contain words such as "anticipates," "believes," "could," "expects," "intends," "may," "projects," "targets" and other similar language that is considered forward-looking statements. These forward-looking statements are subject to certain risks and uncertainties and persons reading this release are cautioned that such statements are only predictions, and that the Company's actual future results or performance may be materially different. The Company disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events, or otherwise, could cause the company's actual results to differ materially from those indicated in any forward-looking statements.


For further information:

Neuro-Biotech Corp.
Dr. Claude Poulin
41 61 500 05 16

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