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Repligen Reports Fourth Quarter and Fiscal Year 2008 Financial Results
Date:6/12/2008

's ataxia. Over the past year, we made significant progress in identifying advanced leads through multiple rounds of novel compound library synthesis and screening for potency, specificity, metabolism and pharmacology. Over the next year these advanced leads will be further characterized in animal models for their pharmacologic, toxicologic and pharmacodynamic profiles to identify an appropriate candidate for the clinic. We have also received a grant from Go FAR to develop a biomarker tool which may be useful in monitoring the biochemical activity and guiding the dosing frequency of a clinical candidate in patients. Go FAR (Friedreich's Ataxia Research) is a fundraising organization headquartered in Turin, Italy formed by the non-profit group RUDI Onlus Committee, dedicated to raising donations to fund research and development of treatments for Friedreich's ataxia.

Intellectual Property

CTLA4-Ig Patent

In April, we reached a settlement with Bristol-Myers Squibb Company (Bristol) in our lawsuit alleging infringement of U.S. Patent No. 6,685,941, based on Bristol's sale of Orencia(R) for the treatment of rheumatoid arthritis. The settlement provided for Bristol to make an initial payment of $5,000,000 and to pay royalties on the U.S. net sales of Orencia(R) for any clinical indication at a rate of 1.8% for the first $500,000,000 of annual net sales, 2.0% for the next $500,000,000 of annual net sales and 4% of annual net sales in excess of $1 billion for each year until December 31, 2013. Based on analysts' estimates for the future U.S. sales of Orencia(R), we anticipate cash receipts in excess of $100 million over the term of the license.

Quarterly Conference Call

Walter C. Herlihy, Ph.D., will host a conference call and webcast on Thursday, June 12th at 11:00 a.m. EDT, to review fourth quarter and fiscal year 2008 financial results and expectations and provide a quarterly update of the Company. Dr. Herlihy will be joined on the call
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