CuraGen revenues climb 38%

CuraGen Corp says that for the year ended December 31, 2000, revenuesincreased 38% to $20.8 million, while net loss for 2000 was just under $27 million compared to $25.8 million in the previous year. During the fourth quarter of 2000, revenues rose 9% to $5.2 million and net loss reached $8.6 million, compared with $7.5 million for the like, year-earlier period.

During 2000, CuraGen established new collaborations with Gemini Genomics and Monsanto of the USA and Ono Pharmaceuticals of Japan, while expanding existing arrangements with Gemini, Abgenix and COR Therapeutics. The company noted that, during 2000, it received a payment from Genentech for discoveries made across numerous disease areas and extended this collaboration for two and a half years.

Jonathan Rothberg, CuraGen's founder and chief executive, said that, during last year, the firm leveraged its proprietary drug discovery and development programs "to aggressively forward-integrate into a leading genomics-based biopharmaceutical company." Over $400 million was raised, helping to finance these programs and significantly advancing its preclinical programs, he said, " to the point that we can now focus our efforts on those collaborations that will significantly advance our strategic interests."