8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 26, 2006

CuraGen Corporation

(Exact name of registrant as specified in its charter)

Delaware	000-23223	06-1331400
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

322 East Main Street, Branford, CT 06405

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (203) 481-1104

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition.

On October 26, 2006, the Registrant issued a press release to report its financial results for the quarter ended September 30, 2006. In addition, the Registrant provided updated guidance on its financial outlook for the current year in such release.

Item 7.01. Regulation FD Disclosure.

On October 26, 2006, the Registrant and TopoTarget A/S issued a press release to provide an update on the intravenous PXD101 clinical development program and reported preliminary results from three clinical trials. Preliminary results include data from a Phase Ib/II trial of PXD101 in combination with paclitaxel and carboplatin for advanced solid tumors, a Phase II trial of PXD101 monotherapy and in combination with dexamethasone for advanced multiple myeloma (MM) and a Phase Ib/II trial of PXD101 in combination with 5-fluorouracil for advanced solid tumors.

The full text of the press releases issued in connection with the above-referenced announcements are furnished as Exhibits 99.1 and 99.2 to this Current Report on Form 8-K.

The information in this Form 8-K (including Exhibit 99.1 and Exhibit 99.2) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Item 9.01. Financial Statements and Exhibits.

(d) The following exhibits relating to Item 2.02 and Item 7.01 shall be deemed to be furnished, and not filed with this report:

Exhibit Number	Description
99.1	Press release of Registrant dated October 26, 2006.
99.2	Press release of Registrant dated October 26, 2006.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	CURAGEN CORPORATION
	(Registrant)
Date: October 26, 2006	By:	/s/ David M. Wurzer
	Name:	David M. Wurzer
	Title:	Executive Vice President and Chief Financial Officer

EX-99.1

Exhibit 99.1

CuraGen Contact:

Glenn Schulman, Pharm.D.

Assistant Director of Investor Relations

gschulman@curagen.com

(888) 436-6642

FOR IMMEDIATE RELEASE

CuraGen Reports Third Quarter 2006 Results

- Company to host conference call today at 11:00 a.m. ET –

BRANFORD, Conn., – October 26, 2006 – CuraGen Corporation (NASDAQ: CRGN) today reported its consolidated financial results for the third quarter 2006.

For the quarter ended September 30, 2006, CuraGen’s consolidated net loss was $15.9 million, or $0.29 per share, compared to a net loss of $22.5 million, or $0.43 per share, for the same period in 2005. Total consolidated revenues for the quarter ended September 30, 2006 were $9.9 million, compared to $5.2 million for the same period in 2005.

As of September 30, 2006, CuraGen had available cash and investments of $181.2 million, as compared to $226.5 million at December 31, 2005, and had outstanding 6% convertible debt of $66.2 million, due February 2007, and outstanding 4% convertible debt of $110 million, due February 2011.

“Since I joined CuraGen seven months ago, we have made substantial progress advancing our oncology pipeline and implementing strategic initiatives. The emerging clinical data on PXD101 reiterates the excitement regarding HDAC inhibition and the promise these agents hold in the treatment of a wide variety of tumor types,” stated Dr. Frank Armstrong, President and Chief Executive Officer of CuraGen. “Over the next few quarters, additional clinical trial results from our PXD101 development program, as well as data from the ongoing trials with velafermin and CR011-vcMMAE, will allow us to make portfolio decisions and the opportunity to advance one or more of these products into registrational development by 2008.”

Update on PXD101

Earlier today, CuraGen and TopoTarget provided an update on the ongoing intravenous PXD101 clinical development program. The Companies announced positive top-line results from a Phase Ib trial of PXD101 in combination with paclitaxel and carboplatin and a progress update on a Phase Ib trial of PXD101 plus 5-FU. Phase Ib results from both of these trials will be presented in November at the 18th EORTC-NCI-AACR Symposium on Molecular Targets and Cancer Therapeutics. Top-line results from the Phase II study of PXD101 monotherapy, and in combination with dexamethasone, for the treatment of multiple myeloma were also detailed, and will be presented in December at the 2006 American Society of Hematology Annual Meeting.

Update on CuraGen subsidiary: 454 Life Sciences

In the third quarter of 2006, CuraGen’s majority-owned subsidiary, 454 Life Sciences, recognized a total of $9.9 million in revenue. Revenue for the third quarter 2006 was comprised of $4.8 million from sales of instrument systems and proprietary reagents, $2.8 million from sequencing service revenue and $2.3 million from grant and other sources.

Dr. Armstrong further commented, “We are very pleased with the continued progress at 454 Life Sciences. Their strong third quarter revenues were driven by significant sales and installations of the Genome Sequencer 20 System (GS20) and by record quarterly demand for reagents. We look forward to the anticipated launch of the Genome Sequencer FLX next year, as we believe the flexibility of this instrument will continue to expand the use of genomic sequencing to a broader range of researchers and drive revenues at 454 Life Sciences.”

The next-generation instrument based on 454 Sequencing, the Genome Sequencer FLX, is expected to be commercially available during the first half of 2007. The Genome Sequencer FLX is designed to accurately sequence more than 100 megabases (million bases) per 7 hour run and achieve read lengths of 200 base pairs or greater.

Recent highlights at 454 Life Sciences also included:

• Receipt of an R&D 100 award and winner of an Editor’s Choice Award from R&D Magazine identifying the GS20 System as one of the most technologically significant products introduced into the marketplace over the past year;

• Receipt of the 2006 CURE Award for Excellence;

• Strengthening of the management team with the appointment of Dr. Mary Schramke as Vice President of Marketing;

• Purchase of a GS20 System by the International Census of Marine Microbes as part of a multi-institutional study of microbial life in the world’s oceans; and

• Establishing a strategic collaboration with the Max Planck Institute for Evolutionary Anthropology to sequence the complete Neandertal genome.

CuraGen’s previously announced engagement of Goldman Sachs for the review of CuraGen’s investment in 454 Life Sciences is ongoing and focused on implementing a strategic option.

Update to 2006 Guidance

As a result of continued aggressive cost containment and effective investment management, CuraGen has revised 2006 guidance for consolidated net loss and cash burn. CuraGen now expects consolidated net loss and consolidated cash burn will both be in the range of $60 to $65 million, a decrease of $5 million for each range as compared to previously provided guidance. CuraGen also reaffirmed that approximately $7 to $15 million of the consolidated cash burn for 2006 will come from 454 Life Sciences in support of their continued investment in next-generation sequencing technologies.

Conference Call Details and Dial-in Information

CuraGen invites investors to attend a conference call this morning at 11:00 a.m. Eastern Time. Accompanying slides can be accessed from the Company’s website at www.curagen.com.

Date:	Thursday, October 26, 2006
Time:	11:00 a.m. ET
Dial-in:	877-272-5391 (domestic)
	706-758-4315 (international)
Passcode:	8562032
Webcast:	Access to the live webcast is available at http://www.curagen.com.

A replay of the conference call will be available starting at 2:00 p.m. Eastern time on Thursday, October 26, 2006 through Sunday, November 26, 2006 by dialing 800-642-1687 (domestic) or 706-645-9291 (international). The passcode for the replay is 8562032. An archive of the webcast will be available for 30 days at http://www.curagen.com.

About CuraGen

CuraGen Corporation (NASDAQ: CRGN) is a biopharmaceutical company developing diverse approaches, including novel protein, antibody, and small molecule therapeutics, that aim to offer hope for patients with cancer, inflammatory diseases, and diabetes. CuraGen’s strategic alliances have resulted in a deep pipeline of potential therapeutics that is being developed by the Company’s experienced research and development teams. By leveraging the drug development strengths cultivated over the years, CuraGen expects to make a difference in the lives of patients by bringing forward promising therapeutics that address unmet medical needs. To further capitalize on CuraGen’s extensive research and development expertise, CuraGen founded a majority-owned subsidiary, 454 Life Sciences, which has developed and is commercializing advanced technologies for the sequencing of DNA. CuraGen is headquartered in Branford, Connecticut. For additional information please visit www.curagen.com.

Safe Harbor

This press release contains forward-looking statements that are subject to certain risks and uncertainties. These forward-looking statements include statements regarding future expectations, beliefs, intentions, goals, strategies, plans or prospects regarding the future, including our expectation of additional clinical trial results from our PXD101 development program as well as data from our ongoing trials with velafermin and CR011-vcMMAE over the next few quarters, our ability to make portfolio decisions based upon such results, our opportunity to advance one or more of these products into registrational development by 2008, consolidated net loss and consolidated cash burn for the remainder of 2006 and the anticipated launch of the Genome Sequencer FLX by our majority-owned subsidiary, 454 Life Sciences. Such statements are based on management’s current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. CuraGen cautions investors that there can be no assurance that actual results or business conditions will not differ materially from those projected or suggested in such forward-looking statements as a result of various factors, including, but not limited to, the following: the risk that any one or more of CuraGen’s drug development programs will not proceed as planned for technical, scientific or commercial reasons or due to patient enrollment issues or based on new information from nonclinical or clinical studies or from other sources, the success of competing products and technologies, CuraGen’s stage of development as a biopharmaceutical company, government regulation and healthcare reform, technological uncertainty and product development risks, product liability exposure, uncertainty of additional funding, CuraGen’s history of incurring losses and the uncertainty of achieving profitability, reliance on research collaborations and strategic alliances, competition, patent infringement claims against CuraGen’s products, processes and technologies, CuraGen’s ability to protect its patents and proprietary rights and uncertainties relating to commercialization rights. Please refer to our Annual and Quarterly Reports on Form 10-K and 10-Q for a description of these risks. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, unless required by law.

CuraGen^® is a registered trademark of CuraGen Corporation. 454^® is a registered trademark of 454 Life Sciences Corporation. 454 Life Sciences™, Genome Sequencer 20™, PicoTiterPlate™, and 454 Sequencing™ are trademarks of 454 Life Sciences Corporation.

CRGN-F

- FINANCIAL TABLES ATTACHED -

CURAGEN CORPORATION AND SUBSIDIARY

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2006			2005			2006			2005
	(unaudited)						(unaudited)
Revenue:
Product revenue	$	4,806		$	3,029		$	14,653		$	6,239
Sequencing service revenue		2,777			663			7,479			1,402
Collaboration revenue		375			911			3,409			3,315
Grant revenue		949			639			2,297			1,975
Milestone revenue		950			—			2,850			31
Total revenue		9,857			5,242			30,688			12,962
Operating expenses:
Cost of product revenue		2,949			958			8,890			1,636
Cost of sequencing service revenue		1,062			228			3,101			535
Grant research expenses		898			534			2,095			1,479
Research and development expenses		14,164			20,191			43,361			52,921
General and administrative expenses		6,644			5,003			16,968			13,957
Restructuring and related charges		—			1,280			—			1,280
Total operating expenses		25,717			28,194			74,415			71,808
Loss from operations		(15,860	)		(22,952	)		(43,727	)		(58,846	)
Interest income		1,777			2,081			5,718			6,395
Interest expense		(2,334	)		(2,775	)		(7,019	)		(9,370	)
Gain on extinguishment of debt		—			358			—			1,766
Loss before income tax benefit and minority interest in subsidiary loss		(16,417	)		(23,288	)		(45,028	)		(60,055	)
Income tax benefit		52			140			161			285
Minority interest in subsidiary loss		485			610			824			2,153
Net loss	$	(15,880	)	$	(22,538	)	$	(44,043	)	$	(57,617	)
Basic and diluted net loss per share	$	(0.29	)	$	(0.43	)	$	(0.80	)	$	(1.13	)
Weighted average number of shares used in computing basic and diluted net loss per share		54,932			52,731			54,784			51,120

SELECTED BALANCE SHEET INFORMATION

	September 30, 2006		December 31, 2005
	(unaudited)
Cash and investments	$	181,172	$	226,528
Working capital		111,503		213,813
Total assets		228,054		270,457
Total long-term liabilities		121,481		190,996
Accumulated deficit		497,176		453,133
Stockholders’ equity		21,304		56,436

EX-99.2

Exhibit 99.2

Contact:

Glenn Schulman, Pharm.D.

Assistant Director of Investor Relations

gschulman@curagen.com

(888) 436-6642

FOR IMMEDIATE RELEASE

CuraGen and TopoTarget Provide Update and Preliminary Data on

PXD101 Clinical Development Program

- Preliminary results show clinical activity of PXD101 in combination with

commonly used anti-cancer agents -

- Conference call today at 11:00 a.m. Eastern time -

BRANFORD, Conn. – October 26, 2006 – CuraGen Corporation (NASDAQ: CRGN) and TopoTarget A/S (Copenhagen Stock Exchange: TOPO) today provided an update on the intravenous PXD101 clinical development program and reported preliminary results from three clinical trials. Preliminary results include data from a Phase Ib/II trial of PXD101 in combination with paclitaxel and carboplatin for advanced solid tumors, a Phase II trial of PXD101 monotherapy and in combination with dexamethasone for advanced multiple myeloma (MM) and a Phase Ib/II trial of PXD101 in combination with 5-fluorouracil for advanced solid tumors.

“The emerging clinical results from our PXD101 clinical development program are very encouraging. We believe these results, along with data being generated by the NCI-sponsored trials, will enable us to define the most efficient path toward registration,” commented Dr. Timothy Shannon, Executive Vice President of R&D and Chief Medical Officer. “The level of activity noted with PXD101, in combination with commonly used chemotherapy agents for patients with advanced cancers, highlights the competitiveness of our HDAC development program. We look forward to presenting clinical data in a peer-reviewed fashion at medical conferences later this year and throughout 2007. Based on these and additional data from the PXD101 development program, we expect to make decisions in 2007 regarding which indications will be advanced into registrational development during 2008.”

Phase Ib/II trial of PXD101 in combination with paclitaxel/carboplatin for advanced solid tumors

The Phase Ib portion of this trial aimed to establish the maximum tolerated dose (MTD) of intravenous PXD101 in combination with carboplatin and paclitaxel with advanced solid tumors for which there is no standard therapy. CuraGen and TopoTarget announced today that the Phase Ib dose escalation portion of this trial has been completed. A total of 23 patients were treated with preliminary results indicating that PXD101 was well tolerated when combined with standard full doses of paclitaxel and carboplatin, widely used treatments for a variety of cancers. Clinical activity was noted including 2 partial objective responses in patients with advanced, refractory cancer (confirmed response in a patient with pancreatic cancer and an ongoing confirmation in a patient with metastatic rectal cancer), and 3 patients achieving stable disease (SD) lasting greater than 10 cycles of treatment (one patient each with advanced Ewing’s sarcoma, malignant melanoma and bladder cancer).

Further results from the Phase Ib trial will be presented in November at the 18th EORTC-NCI-AACR Symposium on Molecular Targets and Cancer Therapeutics in Prague, Czech Republic. This study has now advanced into the Phase II portion and will enroll 15 patients to further evaluate the safety and activity of PXD101 combined with carboplatin and paclitaxel in patients with advanced ovarian cancer. Results from the Phase II trial are anticipated in mid-2007.

Phase II trial of PXD101 monotherapy and in combination with dexamethasone for advanced multiple myeloma (MM)

The Phase II clinical trial was an open label, multi-center study evaluating the safety and efficacy of intravenous PXD101 administered as a single-agent, and in combination with dexamethasone, on patients with advanced MM who had previously failed at least two treatment regimens. Patients were treated with at least two cycles of PXD101 monotherapy and assessed for response. A total of 25 patients were enrolled in the study, of which 21 were eligible to be evaluated for single agent clinical activity. Patients had previously received an average of greater than 5 prior lines of therapy before enrollment into the study. Preliminary results indicate that 9 patients (43%) receiving PXD101 monotherapy achieved SD, with no objective responses observed. Patients who progressed following treatment with PXD101 monotherapy were eligible to receive PXD101 in combination with dexamethasone. Of the 8 evaluable patients treated with this combination an objective response rate of 38% was achieved including 1 partial response and 2 minimal responses. The other 5 patients achieved SD, with two of these patients continuing to receive PXD101 and dexamethasone. PXD101, both alone and in combination with dexamethasone, was well-tolerated. Single agent activity did not meet the criteria necessary for expansion of enrollment into this trial. Currently enrolled patients will continue to receive PXD101 in combination with dexamethasone. Updated results from this trial will be presented in December at the 2006 American Society of Hematology Annual Meeting.

CuraGen and TopoTarget will await preliminary results from an ongoing program evaluating PXD101 in combination with Velcade^® (bortezomib) for Injection, as well as data being generated from other ongoing trials with PXD101, before initiating additional investments in MM.

Phase Ib/II trial of PXD101 in combination with 5-fluorouracil (5-FU) for advanced solid tumors

The Phase Ib portion of this trial aims to establish the MTD of intravenous PXD101 in combination with 5-FU, on patients with advanced solid tumors for which there is no standard therapy. Based on initial results, 5-FU 250mg/m²/day was well tolerated with 1000 mg/m²/d PXD101, and additional cohorts have been added to the trial to evaluate higher doses of 5-FU in combination with PXD101. To date, a total of 17 patients have been enrolled in the study, with enrollment complete in four out of five cohorts. Preliminary results from the Phase Ib dose-escalation portion of the study will be presented in November at the 18th EORTC-NCI-AACR Symposium on Molecular Targets and Cancer Therapeutics in Prague, Czech Republic. The trial is expected to advance into Phase II during the first quarter 2007. Approximately 20 patients with advanced colorectal cancer will be enrolled to further evaluate the safety and activity of the regimen, with results anticipated in mid-2007.

CuraGen and TopoTarget Sponsored Clinical Trials with PXD101

In addition to the above mentioned trials, CuraGen and TopoTarget are conducting three additional clinical trials with PXD101.

• A Phase II clinical trial evaluating intravenous PXD101 for the treatment of T-cell non-Hodgkin’s lymphomas (NHL) including cutaneous T-cell lymphoma (CTCL), as well as peripheral and other T-cell NHL. Results from this trial are expected by the end of 2007;

• A Phase Ib clinical trial evaluating intravenous PXD101 in combination with Velcade^® for Injection for the treatment of advanced MM. Results from this study are anticipated by mid-2007; and

• A Phase I clinical trial evaluating the safety and tolerability of oral PXD101 for the treatment of advanced solid tumors. Results from this trial are anticipated by the end of 2007.

NCI-sponsored Clinical trials with PXD101

A total of seven clinical trials have been initiated by the National Cancer Institute (NCI) under a Clinical Trials Agreement signed with CuraGen. These trials include:

• A Phase II clinical trial evaluating PXD101 for the treatment of Acute Myelogenous Leukemia (AML);

• A Phase II clinical trial evaluating PXD101 for the treatment of B-cell lymphomas;

• A Phase II clinical trial evaluating PXD101 for the treatment of mesothelioma;

• A Phase I/II clinical trial evaluating PXD101 for the treatment of inoperable hepatocellular cancer;

• A Phase I clinical trial evaluating PXD101 in combination with cis-retinoic acid for the treatment of patients with advanced solid tumors;

• A Phase I clinical trial evaluating in combination with Velcade^® (bortezomib) for Injection for the treatment of advanced malignancies, including solid tumors and lymphomas; and

• A Phase I clinical trial evaluating PXD101 in combination with azacitidine for the treatment of advanced hematologic malignancies.

Conference Call Details and Dial-in Information

CuraGen will discuss the results during its quarterly results conference call this morning at 11:00 a.m. Eastern Time. Accompanying slides can be accessed from the Company’s website at www.curagen.com.

Date:	Thursday, October 26, 2006
Time:	11:00 a.m. ET
Dial-in:	877-272-5391 (domestic)
	706-758-4315 (international)
Passcode:	8562032
Webcast:	Access to the live webcast is available at www.curagen.com

A replay of the conference call will be available starting at 2:00 p.m. Eastern time on Thursday, October 26, 2006 through Sunday, November 26, 2006 by dialing 800-642-1687 (domestic) or 706-645-9291 (international). The passcode for the replay is 8562032. An archive of the webcast will be available for 30 days at www.curagen.com.

About PXD101

PXD101 is a promising small molecule HDAC inhibitor being investigated for its role in the treatment of a wide range of solid and hematologic malignancies either as a single-agent, or in combination with other active anti-cancer agents, including 5-FU, carboplatin, paclitaxel, cis-retinoic acid, azacitidine and Velcade^® (bortezomib) for Injection. HDAC inhibitors represent a new mechanistic class of anti-cancer therapeutics that target HDAC enzymes and have been shown to: arrest growth of cancer cells (including drug resistant subtypes); induce apoptosis, or programmed cell death; promote differentiation; inhibit angiogenesis; and sensitize cancer cells to overcome drug resistance when used in combination with other anti-cancer agents.

PXD101 is currently being evaluated in multiple clinical trials as a potential treatment for multiple myeloma, T- and B-cell lymphomas, AML, mesothelioma, liver, colorectal, ovarian cancers, either alone or in combination with anti-cancer therapies. In August 2004, CuraGen signed a Clinical Trials Agreement with the NCI under which the NCI will sponsor several clinical trials to investigate PXD101 for the treatment of various cancers, both as a single-agent and in combination chemotherapy regimens. In May 2005, TopoTarget announced the signing of a Cooperative Research and Development Agreement (CRADA) with the NCI to conduct pre-clinical and non-clinical studies on PXD101 in order to better understand its anti-tumor activity and to provide supporting information for clinical trials.

About CuraGen

CuraGen Corporation (NASDAQ: CRGN) is a biopharmaceutical company developing diverse approaches, including novel protein, antibody, and small molecule therapeutics, that aim to offer hope for patients with cancer, inflammatory diseases, and diabetes. CuraGen’s strategic alliances have resulted in a deep pipeline of potential therapeutics that is being developed by the Company’s experienced research and development teams. By leveraging the drug development strengths cultivated over the years, CuraGen expects to make a difference in the lives of patients by bringing forward promising therapeutics that address unmet medical needs. To further capitalize on CuraGen’s extensive research and development expertise, CuraGen founded a majority-owned subsidiary, 454 Life Sciences, which has developed and is commercializing advanced technologies for the sequencing of DNA. CuraGen is headquartered in Branford, Connecticut. For additional information please visit www.curagen.com.

About TopoTarget

TopoTarget (CSE: TOPO) is a biopharmaceutical company, headquartered in Denmark and with subsidiaries in the UK and Germany, dedicated to finding “Answers for Cancer” and developing improved cancer therapies. TopoTarget is founded and run by clinical cancer specialists and combines years of hands-on clinical experience with in-depth understanding of the molecular mechanisms of cancer. Focus lies on highly predictive cancer models and key cancer enzyme regulators (mainly HDAC, mTOR, and topoisomerase II inhibitors) and a strong development foundation has been built. TopoTarget has a broad portfolio of small molecule preclinical drug candidates and seven drugs are in clinical development, including both novel anti-cancer therapeutics and new cancer indications for existing drugs. Savene™ is TopoTarget’s first product on the market. In addition to organic growth, TopoTarget consistently looks for opportunities to strengthen and expand its activities through acquisitions and in-licensing. For more information, please refer to www.topotarget.com.

Safe Harbor

This press release contains forward-looking statements that are subject to certain risks and uncertainties. These forward looking statements include statements regarding future expectations, beliefs, intentions, goals, strategies, plans or prospects regarding the future, including statements about the expected benefits of PXD101, our ability to obtain results from PXD101 clinical trials in 2007 and our ability to advance one or more products into registational development by 2008. We caution investors that there can be no assurance that actual results or business conditions will not differ materially from those projected or suggested in such forward-looking statements as a result of various factors, including, but not limited to, the following: the risk that any one or more of the PXD101 or any other CuraGen drug development program will not proceed as planned for technical, scientific or commercial reasons or due to patient enrollment issues or based on new information from nonclinical or clinical studies or from other sources; the success of competing products and technologies; technological uncertainty and product development risks; uncertainty of additional funding; CuraGen’s history of incurring losses and the uncertainty of achieving profitability; CuraGen’s stage of development as a biopharmaceutical company; government regulation; patent infringement claims against CuraGen’s products, processes and technologies; the ability to protect CuraGen’s patents and proprietary rights; uncertainties relating to commercialization rights; and product liability exposure. Please refer to CuraGen’s Annual and Quarterly Reports on Forms 10-K and 10-Q for a complete description of these risks. CuraGen disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, unless required by law.

CRGN-P

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