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

To: phbolton who wrote (176)	5/13/1998 10:18:00 AM
From: phbolton	Read Replies (1) \| Respond to of 523

Date: 5/13/98 8:56 AM From: Amy Enders NEUROGEN ANNOUNCES EXTENSION OF OBESITY RESEARCH PROGRAM WITH PFIZER Branford CT -- May 13, 1998 -- Neurogen Corporation (Nasdaq: NRGN) today announced an extension of the funded research portion of their collaboration with Pfizer Inc (NYSE: PFE) to develop drugs for obesity which work through the neuropeptide Y (NPY) neurotransmitter. The Pfizer/Neurogen collaboration was established in November 1995 to discover and develop new drugs to treat obesity by blocking the effect of NPY on appetite. In that agreement, Pfizer committed to fund for three years Neurogen¡s efforts to discover new NPY blocking drugs. The extension will continue Neurogen¡s funded research for an additional year beginning November 1, 1998. Working together, the Neurogen and Pfizer teams compliment the strengths of each company,Œ said Harry H. Penner, Jr., Neurogen¡s President and CEO. We have learned a great deal from our first clinical candidate, NGD 95-1, and would like to bring new collaboration candidates into human clinical trials over the next year or so.Œ NPY is believed to be central to eating behavior. Neurogen and Pfizer are developing drugs that block the effect the certain NPY neurotransmitter receptor sub-types associated with appetite. Neurogen¡s first NPY antagonist, NGD 95-1, demonstrated efficacy in preclinical animal models of feeding, and in collaboration with Pfizer, Neurogen has conducted Phase I human clinical trials of the compound. The Phase I human clinical trials of NGD 95-1, believed to be the first NPY blocker to be tested in humans, examined the drug¡s safety in obese, but otherwise healthy, volunteers. When elevated liver enzymes were discovered in some volunteers taking the highest of three doses tested, further development of that compound was halted, at least temporarily, and the primary collaboration focus turned to the identification of additional clinical candidates. Accordingly, Neurogen and Pfizer are examining several new candidates from classes of compounds which are both chemically similar to and different from NGD 95-1. Neurogen and Pfizer are also collaborating in three drug development programs involving the GABA neurotransmitter. These programs focus on drugs to treat anxiety, insomnia, and dementia. Neurogen is a leading neuropharmaceutical company whose eleven small molecule drug programs promise improved treatment for an extensive variety of neuropsychiatric disorders, including anxiety, obesity, schizophrenia, sleep disorders, stress-related disorders, dementia, depression, and epilepsy. Neurogen¡s broad program portfolio and six collaborations with major pharmaceutical companies derive from its unique integration of cutting edge neurobiology, medicinal chemistry and molecular biology with its AIDDsm (Accelerated Intelligent Drug Design) program, a proprietary blend of combinatorial chemistry with high throughput screening, robotics and informatics. The information in this press release contains certain forward-looking statements that involve risks and uncertainties as detailed from time to time in Neurogen's SEC filings, including its most recent 10-K. Actual results may differ materially from the statements made as a result of various factors, including, but not limited to, risks associated with the inherent uncertainty of Company research, difficulties or delays in development, testing, regulatory approval, production and marketing of any of the Company's drug candidates, adverse side effects or inadequate therapeutic efficacy of the Company's drug candidates, advancement of competitive products, dependence on corporate partners, sufficiency of cash to fund the Company's planned operations and patent, product liability and third party reimbursement risks associated with the pharmaceutical industry. Contacts: Stephen R. Davis Amy C. Enders Neurogen Corporation (203) 488-8201 Lori Gosset (media) Robert Marston & Assoc. (212) 371-2200