CURAGEN CHANGES TERMS OF BAYER AGREEMENT

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Biotechnology company CuraGen Corp. said Tuesday it has exercised its right to change the terms of a drug development agreement with Bayer Pharmaceuticals Corp., under which it will receive royalties on product sales and stop paying development costs. Under the original terms, CuraGen and Bayer agreed to jointly develop and market any products resulting from the collaboration, with CuraGen receiving 44 percent of profits from products sold.

Schaeffer's Research (http://www.schaeffersresearch.com/commentary/news_detail_ap.aspx?click=home&newsid=117395)