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CuraGen Completes $15M Private Placement Deal

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NEW HAVEN, Conn.--CuraGen has completed a private placement valued at $15 million. The company has agreed to sell 1.5 million newly issued shares of common stock at $10 a share to funds managed by Pequot Capital Management. "We anticipate utilizing the funds derived from this financing to further advance CuraGen's technology platform and propel the development of the company's proprietary drug pipeline," stated Jonathan Rothberg, founder, chairman, and CEO of CuraGen. The company intends to invest the capital in refining and expanding its base of functional genomics technologies and databases.

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