RESEARCH TRIANGLE PARK, N.C., Feb. 21, 2008 (PRIME NEWSWIRE) -- Icagen, Inc. (Nasdaq:ICGN) today announced that P. Kay Wagoner, Ph.D., President and Chief Executive Officer, will participate in the 2008 BioBusiness Conference to be held February 26 through February 28, 2008 in Geneva. Dr. Wagoner and Jeff Southerton, Ph.D., Executive Director, Worldwide Business Development at Pfizer, are scheduled to present an overview of the companies' collaborative pain program, "Evaluating the Impact of a High-Profile Collaboration on Pain Treatments" on Thursday, February 28, 2008.
In August 2007, Icagen announced the formation of a research and development collaboration with Pfizer on three sodium channel targets for the treatment of pain and related disorders. The two companies have combined resources to identify compounds that target each of these three ion channels. Pfizer is funding all aspects of the collaboration including the research and preclinical development efforts at Icagen and will have an exclusive worldwide license to commercialize products that result from the collaboration.
About Icagen
Icagen, Inc. is a biopharmaceutical company based in Research Triangle Park, North Carolina, focused on the discovery, development and commercialization of novel orally-administered small molecule drugs that modulate ion channel targets. Utilizing its proprietary know-how and integrated scientific and drug development capabilities, Icagen has identified multiple drug candidates that modulate ion channels. The Company is conducting research and development activities, in some cases in collaboration with leading pharmaceutical companies, in a number of disease areas, including epilepsy, pain and inflammation. The Company has clinical stage programs in epilepsy and asthma.
Forward-Looking Statements
This press release contains forward-looking statements that involve a number of risks and uncertainties. For this purpose, any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, the words "believes," "anticipates," "plans," "expects," "intends," and similar expressions are intended to identify forward-looking statements. Important factors that could cause actual results to differ materially from the expectations described in these forward-looking statements are set forth under the caption "Risk Factors" in the Company's most recent Quarterly Report on Form 10 Q, filed with the SEC on November 5, 2007. These risk factors include risks as to the Company's history of net losses and how long the Company will be able to operate on its existing capital resources; the Company's ability to raise additional funding; the Company's ability to maintain compliance with NASDAQ's continued listing requirements; whether the Company's products will advance in the clinical trials process; the timing of such clinical trials; whether the results obtained in preliminary studies will be indicative of results obtained in clinical trials; whether the clinical trial results will warrant continued product development; whether and when, if at all, the Company's products, including senicapoc, will receive approval from the U.S. Food and Drug Administration or equivalent regulatory agencies, and for which indications, and if such products receive approval, whether they will be successfully marketed; and the Company's dependence on third parties, including manufacturers, suppliers and collaborators. We disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.