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Biotech / Medical : Neurogen (NRGN)

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To: Thomas M. who wrote (214)	6/17/1999 10:08:00 AM
From: phbolton	Read Replies (1) of 523

Neurogen Licenses AIDD(SM) Technology to Pfizer for $27 Million This is good news but not like getting something through phase II: PR Newswire - June 17, 1999 00:16 BRANFORD, Conn., June 17 /PRNewswire/ -- Neurogen Corporation (Nasdaq: NRGN) today announced a non-exclusive licensing arrangement with Pfizer Inc (NYSE: PFE) covering Neurogen's AIDD(SM) (Accelerated Intelligent Drug Discovery) technology. Neurogen will install its integrated drug discovery system at Pfizer Central Research. Neurogen expects to receive $27 million over the three-year period of the agreement for AIDD installations and enhancements. Additional payments are also possible upon Pfizer's successful utilization of Neurogen's AIDD technology. This technology transfer will augment Pfizer's drug discovery efforts enabling Pfizer to generate more rapidly libraries of compounds and then efficiently identify and optimize potential drug candidates. Neurogen is not obligated to furnish new compound libraries to Pfizer or to provide access to its own compound library. Further details of the collaboration were not disclosed. go2net.newsalert.com

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