CuraGen Reports Fourth Quarter and Year End 2007 Financi...(bymonetizing approximately $91 million o...)

Date:1/31/2008

by monetizing approximately $91 million of non-core assets, and reducing our convertible debt by approximately $106 million. With $115 million of cash and investments and a projected operating cash burn of approximately $25 million, we believe that we are in an excellent position to advance our core products, belinostat and CR011-vcMMAE, toward registrational development during 2008 and to fund operations into 2011," commented Timothy Shannon, M.D., President and Chief Executive Officer of CuraGen.

Anticipated milestones for 2008 include:

Belinostat, HDAC inhibitor for the treatment of cancer:

-- Updated Phase II results for the treatment of T-cell lymphoma during

the second quarter of 2008;

-- Updated Phase II results of belinostat in combination with carboplatin

and paclitaxel for the treatment of ovarian cancer during the second

quarter of 2008; and

-- Initiate Phase III trial of intravenous belinostat for the treatment of

peripheral T-cell lymphoma by the fourth quarter of 2008.

CR011-vcMMAE, antibody-drug conjugate for the treatment of metastatic

melanoma:

-- Advance CR011-vcMMAE into the efficacy portion of the Phase I/II

clinical trial for patients with metastatic melanoma during the second

quarter of 2008; and

-- Report updated Phase I/II clinical trial results of CR011-vcMMAE for

the treatment of malignant melanoma during the second quarter of 2008.

Conference Call Details and Dial-in Information

Date: Thursday, January 31, 2008

Time: 11:00 a.m. EST

Dial-in: 877-272-5391 (domestic)

706-758-4315 (international)

Passcode: 31898426

Webcast: Access to the live webcast is available at

http://www.curagen.com.

A replay of the conference call will be available starting at 2:00 p.m
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SOURCE CuraGen Corporation Copyright©2008 PR Newswire. All rights reserved

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