On March 8, 2006, Neuro-Hitech entered into a Development Agreement for an exclusive license with Xel Herbaceuticals, Inc. ("Xel") to develop a prototype transdermal patch formulation that will enable once-weekly dosing. The agreement grants Neuro-Hitech exclusive license to Xel's intellectual property surrounding product development technology for transdermal Huperzine A in the United States and Canada.