Neurogen Corporation Announces Agreement for Sale of Its C5a Patent Estate and Related Assets for $2.25 Million and Receipt of Final Payment on $3 Million Sale of Chemical Library

BRANFORD, Conn.--(BUSINESS WIRE)--Neurogen Corporation (Nasdaq: NRGN), a drug development company focused on improved drugs for psychiatric and neurological disorders, today announced it has entered into a definitive agreement to sell its C5a patent estate and related assets to a major pharmaceutical company for $2.25 million. Also, on December 16th, 2008, Neurogen received the final payment on the previously announced $3 million sale of its chemical library to a major pharmaceutical company.

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