Neuro-Biotech Corp. Completes Its Due Diligence

Mar 23, 2011, 11:46 ET from Neuro-Biotech Corp.

BASEL, Switzerland, March 23 /PRNewswire/ - Neuro-Biotech Corp. (PINKSHEETS: MRES) (OTCQB: MRES) announces that management has completed its due diligence process.

Following the completion of the preliminary due diligence, Neuro-Biotech Corp. Has come to the conclusion that it is in the best interest of the company not to proceed in pursuing any longer those negotiations in regards to the unsolicited offer from AURIC Pharma Science at the present time. Following a careful review of the documents that where provided by AURIC, the company has not been able to get satisfactory answer and information in order to complete the basic due diligence procedure as was initially agreed on.

Both companies have mutually agreed to enter into discussion of possible distribution license agreement for a specific sector of the European Market. Discussion will be initiated in the course of the coming days.

For more information on Neuro-Biotech Corp or to contact a company representative, please visit: www.neuro-biotechcorp.com

FORWARD LOOKING STATEMENTS

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.

SOURCE Neuro-Biotech Corp.