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news.CuraGen has completed a series of privately negotiated transactions in which the company sold the five million shares of TopoTarget common stock issued to the company as partial payment for the sale of CuraGen's ownership in belinostat.
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After expenses, CuraGen will receive approximately $12 million in cash.
Timothy Shannon, president and CEO of CuraGen, said: “We also retain further potential upside related to belinostat consisting of up to $6 million in potential milestone payments on future net sales and sublicenses of belinostat.”