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Biotech / Medical : Neurogen (NRGN) -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (222)	6/17/1999 9:48:00 PM
From: phbolton	Respond to of 523

The Motley Fool - June 17, 1999 17:27 June 17, 1999/FOOLWIRE/ -- Neuropsychiatric drug developer Neurogen Corp. (Nasdaq: NRGN) added $2 1/16 to $14 5/8 after announcing a non-exclusive licensing agreement with Pfizer (NYSE: PFE) for its accelerated intelligent drug discovery (AIDD) technology, which combines chemistry with screening, informatics, and robotics. The deal is expected to pay Neurogen $27 million over three years with additional payments possible based on Pfizer's success with the system. This particular deal not only provides a nice boost to Neurogen's income statement -- the company had $11 million in revenues in 1998 -- it also provides a nice testimonial for Neurogen, which hopes to ink more licensing agreements with other companies. In addition, that the pact further cements the company's relationship with Rule Maker Pfizer -- the two companies had five drug development partnerships running at the end of last year -- can't hurt.