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EXHIBIT 99.2
Press Release of the Registrant
CURAGEN LICENSES FIVE DRUG TARGETS TO BIOGEN AND COMPLETES RESEARCH PORTION OF
COLLABORATION -
NEW HAVEN, CT - OCTOBER 9, 2000 - CuraGen Corporation (Nasdaq: CRGN), an
integrated genomics-based drug discovery and development company, announced
today that it has licensed five drug targets to Biogen, Inc., marking the
completion of the research portion of their discovery collaboration. These
targets were identified using CuraGen's integrated platform of functional
genomic technologies, and were delivered under the terms of the original
collaborative agreement. Going forward, CuraGen is entitled to receive
potential milestone payments resulting from the advancement of these targets
through clinical trials, and royalty payments if these targets are converted
into marketed drugs. CuraGen is also entitled to receive additional milestone
and royalty payments for other discoveries stemming from the research portion of
this collaboration.
"Biogen was one of CuraGen's earliest collaborators and together we have made a
number of discoveries, including the licensed drug targets. We are now looking
forward to recognizing the fruits of our research efforts, as Biogen advances
our joint discoveries through the drug development process," stated Christopher
K. McLeod, Executive Vice President of CuraGen Corporation.
CuraGen Corporation is advancing the discovery and development of pharmaceutical
and life science products through the systematic application of genomics.
CuraGen's fully integrated, Internet-based functional genomic technologies,
services, and information systems are designed to rapidly generate comprehensive
information about genes, human genetic variations, gene expression, protein
expression, protein pathways, and potential drugs that affect these pathways.
The Company is applying this comprehensive functional genomic platform to
develop protein and antibody drugs, and to identify small molecule drug targets.
CuraGen has conducted research for collaborators including Abgenix, Biogen, COR
Therapeutics, Dupont/Pioneer Hi-Bred International, Gemini Genomics, Genentech,
Glaxo Wellcome, Hoffmann-La Roche, Ono Pharmaceuticals, and Roche Vitamins.
CuraGen employs over 300 people and is headquartered in New Haven, CT.
Additional Company information is available at www.curagen.com.
This release may contain forward-looking statements that are subject to certain
risks and uncertainties, including CuraGen Corporation's abilities to recognize
the fruits of our research efforts, as Biogen advances our joint discoveries
through the drug development process, and to further advance its internal
disease programs. Such statements are based on management's current expectations
and are subject to a number of factors and uncertainties that could cause actual
results to differ materially from those described in the forward-looking
statements. The Company cautions investors that there can be no assurance that
actual results or business conditions will not differ materially from those
projected or suggested in such forward-looking statements as a result of various
factors, including, but not limited to, the following: CuraGen Corporation's
early stage of development, technological uncertainties and product development
risks, uncertainties surrounding the availability of additional funding,
reliance on research collaborations, competition, ability to protect its patents
and proprietary rights, and uncertainties relating to commercialization rights.
