Neurobiological Technologies' venom-based drug Viprinex for strokes failed a late-stage trial in 2008 - as the Great Recession began to take hold. The company laid off most of its staff after the failure and had hoped to find a buyer. But with no offers, the company had no choice but to close its doors. Previously, the company focused on developing investigational drugs for central nervous system conditions. NTI had been functioning as a drug development company focused on the clinical evaluation and regulatory approval of neuroscience drugs. Having raised signigicant funding, and with a raft of deals to its credit, the company's strategy had been to in-license and develop early- and later-stage drug candidates that target major medical needs and which could be rapidly commercialized. NTI's experienced management team oversaw the human clinical trials necessary to establish preliminary evidence of efficacy
