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Biotech / Medical : CuraGen (CRGN)

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To: fut_trade who wrote (19)	4/15/1998 9:06:00 PM
From: fut_trade	Read Replies (1) of 478

CuraGen and Pioneer Hi-Bred Announce Expansion of Gene Discovery Collaboration NEW HAVEN, Conn. & DES MOINES, Iowa--(BUSINESS WIRE)--April 15, 1998--CuraGen Corporation (NASDAQ: CRGN - news) and Pioneer Hi-Bred International, Inc. (NYSE:PHB - news), announced today the expansion of their ongoing gene discovery collaboration. The expansion will double Pioneer's annual funding from $2.5 million a year to a minimum of $5.0 million. ''Our decision to double the size of the collaboration is both an affirmation of Pioneeer's commitment to genomics and a clear indication that CuraGen's performance under the collaboration has exceeded our expectations,'' said Tony Cavalieri, Vice President and Director of Trait and Technology Development at Pioneer. ''We are very pleased with the collaboration and its impact on Pioneer's ongoing genomic research and product development efforts. Together, Pioneer and CuraGen have discovered a number of genes responsible for commercially important traits. Many of these genes are moving into the early stages of our product development process.'' ...

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