Icagen, Inc. Provides Update On Atrial Fibrillation Program; Heart Flutter Study Stopped

RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--Dec. 22, 2005--Icagen, Inc. (NASDAQ: ICGN) today provided an update on the Company's atrial fibrillation program, currently in Phase I clinical trials in collaboration with Bristol-Myers Squibb Company (NYSE:BMY). As previously reported, Bristol-Myers Squibb has been conducting the clinical development of this program. Most recently this clinical development has included a Phase I proof-of-concept study, which was initiated in 2004. As a result of slow enrollment into this proof-of-concept study, Bristol-Myers Squibb has decided to discontinue this specific clinical trial. Bristol-Myers Squibb is currently considering alternative trial designs.