Institutes of Biomedical Research Corp (MRES)

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Neuro-Biotech Licensees Network: LOI with Israel
Tuesday 25, January 2011
Neuro-Biotech Pursues the Implementation of its Licensees Network and Signs a LOI with Israel

BASEL, Switzerland, Jan. 25 - Neuro-Biotech Corp. (MRES-OTCQB) is pleased to announce the signing of a Letter of Intent with a major distributor in Israel.

Both groups are discussing the details of a Licensing Agreement based on similar terms and conditions as the recently negotiated agreement with the Russian company Credo-TM.

Furthermore, Neuro-Biotech intends to contract the manufacturing of the tests ordered by its Licensee in Israel and to that effect discussions have already taken place with Sigma-Aldrich a renowned pharmaceutical firm in Israel.

With the signing of this Letter of Intent with the Israelis, Neuro-Biotech gains a strong foothold and is able to pursue in an accelerated way the implementation of its Licensee network throughout the world. This allows the Company to initiate the next phase of its development plan namely the creation of its own "Technological Showcase" to support the training of technicians and the development of new products.