Critical Therapeutics, Inc. Achieves Collaboration Milestone In HMGB1 Program; Demonstrates Efficacy Of HMGB1 Antibodies In Preclinical Models Of Inflammation

LEXINGTON, Mass.--(BUSINESS WIRE)--Dec. 8, 2005--Critical Therapeutics, Inc. (Nasdaq: CRTX) today announced the achievement of a preclinical, proof-of-concept milestone in its High Mobility Group Box 1 (HMGB1) program with MedImmune, Inc. The milestone resulted in a $1.25 million cash payment to Critical Therapeutics, some of which will be recognized as revenue in the fourth quarter of 2005. Along with the milestone payment, MedImmune will fund additional full-time employees at Critical Therapeutics through the end of 2006, representing an incremental commitment to the previous terms of the collaboration agreement