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Biopharmaceuticals Personnel

 News Release - July 31, 2006

Neurobiological Technologies, Inc. Appoints Craig W. Carlson CFO

EMERYVILLE, Calif., July 31 (HSMN NewsFeed) -- Neurobiological Technologies, Inc. (NTI) (Nasdaq: NTII ) today announced the appointment of Craig W. Carlson as its Vice President and Chief Financial Officer.

Carlson, age 58, comes to NTI with 27 years of experience in finance and communications. Most recently he was with Cygnus, Inc., where he held several executive-level positions, including CFO and COO, beginning in 1993 until the company's acquisition by Animas in 2005. At Cygnus, Carlson's primary responsibilities included financial and accounting management, SEC reporting, Sarbanes-Oxley compliance, capital raising, as well as overseeing U.S. and international sales and marketing, business development and investor relations functions. Cygnus developed and manufactured an automatic and non-invasive glucose monitor that pioneered the continuous glucose-monitoring segment.

Prior to joining Cygnus in 1993, Carlson spent 14 years developing and implementing marketing and communications strategies for major corporations. He worked for a number of major advertising agencies, including Young and Rubicam in San Francisco.

Carlson has an MBA degree from Stanford, an M.S. degree in Education and Counseling from Hofstra and a B.A. degree in Political Science from Union College in Schenectady, New York.

Paul Freiman, President and Chief Executive Officer of NTI said, "Craig comes to NTI at a very significant time with two important skill sets. Most obviously, he has been deeply involved in running a publicly listed life sciences company. His financial skills, as well as knowledge of both the U.S. and international markets, will be important to NTI as we continue to seek relationships with companies both here and abroad. Craig also possesses a communications background that few CFO's can match. I believe that NTI will benefit greatly from this knowledge as well as his financial acumen."

Carlson said, "NTI's strategy to in-license and develop neuroscience drugs, coupled with its drug in Phase III development, should bode well for the Company's future. I look forward to the challenges and opportunities ahead as the company expands its development efforts and builds its commercial operations."

About Neurobiological Technologies, Inc.

NTI is a drug development company focused on the clinical evaluation and regulatory approval of neuroscience drugs. The company's strategy is to in-license and develop early- and later-stage drug candidates that target major medical needs and which can be rapidly commercialized. NTI's experienced management team oversees the human clinical trials necessary to establish preliminary evidence of efficacy. We anticipate that we will continue to acquire and develop late-stage neurologic drug candidates and will develop the resources to market these drugs in selected world regions. Our goal is to develop and market drug candidates in the United States, Europe and Asia and we may seek partnerships with pharmaceutical and biotechnology companies to assist us.

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, changes to our management team, our reliance on third-party manufactures and clinical trials and the regulatory approval process and other risks detailed from time to time in our Securities and Exchange Commission filings. Actual results may differ materially from those projected. These forward-looking statements represent our judgment as of the date of the release. We disclaim, however, any intent to update these forward-looking statements.

Source: Neurobiological Technologies

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