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CuraGen Provides Update on Velafermin, Belinostat and CR011-vcMMAE Clinical Development Programs
Date:8/19/2007

and refer to CuraGen's periodic reports on file with the Securities and Exchange Commission for a more complete description of the risks.

The Company reiterated its 2007 financial guidance previously provided on July 26, 2007. During the second half of 2007, CuraGen anticipates using approximately $14 to $17 million of cash and investments to fund continuing operations. For the full year 2007, cash and investments used in continuing operations are expected to be approximately $38 to $41 million in 2007. The Company had approximately $155.2 million in cash and investments as of June 30, 2007.

Preliminary estimates for use of cash and investments to fund continuing operations during 2008 currently range from $20 to $30 million and are dependent on the progress of velafermin, belinostat and CR011-vcMMAE as each product is advanced toward Phase III clinical trials. Detailed financial guidance for 2008 will be provided throughout the remainder of 2007 as additional clinical trial results become available.

Conference Call and Webcast Details

A live conference call and webcast will begin at 6:00 p.m. Eastern time on Monday, August 6, 2007 and will be accessible at http://www.curagen.com.

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

706-758-4315 (international)

Passcode: 12395297

A replay of the conference call will be available starting at 9:00 p.m. Eastern time on Monday, August 6, 2007 through Thursday, September 6, 2007 by dialing 800-642-1687 (domestic) or 706-645-9291 (international). The passcode for the replay is 12395297. An archive of the webcast will be available for 30 days at http://www.curagen.com.

Upcoming 2007 Milestones

Product Phase Indication Regimen Milestone

Velafermin II Prevention of Single infusion Top-line results

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SOURCE CuraGen Corporation

Copyright©2007 PR Newswire.

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