Navigation Links
CuraGen Sells 5 Million TopoTarget Shares for Approximately $12 Million

BRANFORD, Conn., May 22 /PRNewswire-FirstCall/ -- CuraGen Corporation (Nasdaq: CRGN) announced today the completion of a series of privately negotiated transactions in which the Company sold the 5,000,000 shares of TopoTarget common stock issued to the Company as partial payment for the sale of CuraGen's ownership in belinostat. After expenses, CuraGen will receive approximately $12 million in cash.

"We are pleased to announce the planned, orderly liquidation of our position in TopoTarget stock. These sales, when added to the up-front cash payment we received from TopoTarget on April 22, 2008, bring the total cash realized by CuraGen to approximately $38 million," stated Dr. Timothy Shannon, President and Chief Executive Officer of CuraGen Corporation. "We also retain further potential upside related to belinostat consisting of up to $6 million in potential milestone payments on future net sales and sublicenses of belinostat."

About CuraGen

CuraGen Corporation (Nasdaq: CRGN) is a clinical-stage biopharmaceutical company developing promising approaches for the treatment of cancer. CuraGen Corporation is headquartered in Branford, Connecticut. For additional information please visit

Forward-Looking Statements

Statements in this press release regarding management's future expectations, beliefs, intentions, goals, strategies, plans or prospects, including statements relating to CuraGen's potential economic benefits from future net sales and sublicense of belinostat may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by terminology such as "anticipate," "believe," "could," "could increase the likelihood," "estimate," "expect," "intend," "is planned," "may," "should," "will," "will enable," "would be expected," "look forward," "may provide," "would" or similar terms, variations of such terms or the negative of those terms. Such forward-looking statements involve known and unknown risks, uncertainties and other factors including the risk that any one or more of CuraGen's drug development programs will not proceed as planned for technical, scientific or commercial reasons or due to patient enrollment issues or based on new information from nonclinical or clinical studies or from other sources, the success of competing products and technologies, CuraGen's stage of development as a biopharmaceutical company, government regulation and healthcare reform, technological uncertainty and product development risks, product liability exposure, uncertainty of additional funding, CuraGen's history of incurring losses and the uncertainty of achieving profitability, reliance on research collaborations and strategic alliances, competition, patent infringement claims against CuraGen's products, processes and technologies, CuraGen's ability to protect its patents and proprietary rights and uncertainties relating to commercialization rights, as well as those risks, uncertainties and factors referred to in CuraGen's Quarterly Report on Form 10-Q for the period ended March 31, 2008 filed with the Securities and Exchange Commission under the section "Risk Factors," as well as other documents that may be filed by CuraGen from time to time with the Securities and Exchange Commission. As a result of such risks, uncertainties and factors, CuraGen's actual results may differ materially from any future results, performance or achievements discussed in or implied by the forward-looking statements contained herein. CuraGen is providing the information in this press release as of this date and assumes no obligations to update the information included in this press release or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

CuraGen Contacts:

Sean Cassidy

Vice President and Chief Financial Officer

Glenn Schulman, Pharm.D.

Director Medical Communications

(888) 436-6642


SOURCE CuraGen Corporation
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. CuraGen Reports First Quarter 2008 Financial Results
2. CuraGen and TopoTarget Report Belinostat Results Presented at ASH and Provide Regulatory Update Following End-of-Phase II Meeting with FDA
3. CuraGen Reports Third Quarter 2007 Financial Results
4. CuraGen to Present at the Bear Stearns 20th Annual Healthcare Conference
5. Actifirm Sells Out in First Hour Appearance on QVC
6. Blackstone Sells Gerresheimer Stake
7. Isolagen, Inc. Sells Switzerland Facility
8. On The Go Healthcare Sells VAR Business to Wireless and Internet Space Development Leader FTS Group
9. Medifast Franchise Systems Sells First Territory in Baltimore
10. HLTH Corporation Sells its Minority Interest in Emdeon Business Services to General Atlantic and Hellman & Friedman for $575 Million
11. Sentillion Announces Strong Q4 Performance; Signs 10 New Customers; Sells 95,800 Licenses
Post Your Comments:
(Date:11/30/2015)... , ... November 30, 2015 ... ... Inc. are pleased to announce their strategic partnership at the Radiological Society ... Transcription Service, Inc., and Winscribe, global providers of cutting-edge dictation and speech-enabled ...
(Date:11/30/2015)... ... 2015 , ... World Patent Marketing , a vertically ... invention that provides an economical and easy way of gaining customized curtains. , ... 2.6%," says Scott Cooper, CEO and Creative Director of World Patent Marketing. "There ...
(Date:11/29/2015)... ... November 29, 2015 , ... ... Institute of Ultrasound in Medicine! , AIUM ultrasound practice accreditation is a ... or exceed nationally recognized standards in the performance and interpretation of diagnostic ...
(Date:11/29/2015)... Los Angeles, Ca (PRWEB) , ... November 29, 2015 , ... ... from the American Board of Ophthalmology on November 25th 2015. Peer Certification ... in the field of his specialty. Certification in Ophthalmology is first obtained after the ...
(Date:11/29/2015)... ... ... Effective immediately, every single IguanaMed scrub style will be available at Target via ... “Buy One Scrub Set, Get the 2nd Scrub Set 50% Off” for a limited ... price. , IguanaMed’s mission is to outfit every healer around the world ...
Breaking Medicine News(10 mins):
(Date:11/30/2015)... , Nov. 30, 2015   VolitionRx Limited (NYSE ... diagnostic tests for a broad range of cancer types and ... LD Micro Conference, which will be held December 1 - 3 ... from VolitionRx will be David Kratochvil , Chief Financial ... of Investor Relations. ® blood-based tests for ...
(Date:11/30/2015)... , November 30, 2015 Elbit ... the "Company") announced today that it was informed by InSightec ... Drug Safety (MFDS) has approved its Exablate Neuro system ... --> --> Insightec,s Exablate Neuro ... alternative that combines two technologies: Focused Ultrasound, which is ...
(Date:11/29/2015)... CHICAGO , Nov. 29, 2015  The GE Health ... annual Radiological Society of North America ... exclusively for the healthcare industry, the new cloud ecosystem and ... and collaboration across care pathways and multidisciplinary teams – both ... Immelt , Chairman and CEO of GE. "As the digital ...
Breaking Medicine Technology: