Icagen, Inc. -- Pfizer Inc. Pain Collaboration Reaches First-in-Man Milestones

RESEARCH TRIANGLE PARK, N.C., July 29, 2010 (GLOBE NEWSWIRE) -- Icagen, Inc. (Nasdaq:ICGN) today provided an update on its sodium channel program for pain and related disorders, which is being conducted in collaboration with Pfizer. Pfizer and Icagen have initiated a clinical study in healthy volunteers of several collaboration compounds in order to assist in the selection of compounds for further clinical development. The initiation of this study triggers milestone payments to Icagen of $3 million. Pfizer has funded all aspects of the collaboration, including research and preclinical development efforts at Icagen, and has exclusive worldwide rights to commercialize products that result from the collaboration.

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