Neurogen Corporation Announces Appointment of Kenneth J. Sprenger to Vice President, Clinical Development and Operations.

BRANFORD, Conn. -- Neurogen Corporation (Nasdaq: NRGN), a small molecule drug discovery and development company, announced today that Kenneth J. Sprenger, M.D., M.B.B.Ch,, B.Sc.. has been appointed to the position of Vice President, Clinical Development and Operations.

William H. Koster, CEO, said, "Ken has been responsible for all clinical development activities for our most advanced compound, adipiplon, for the treatment of insomnia--eight clinical studies in over 600 subjects, including two successful Phase 2b studies announced earlier this year. He has also been a key contributor to building the Company's clinical development infrastructure, which has been critical to our transition from an early-stage discovery company to a mid-stage drug development firm. It gives me great pleasure to recognize his contributions to Neurogen and to announce his appointment to vice president."

Dr. Sprenger joined Neurogen in January 2005 as Senior Director, Clinical Development and Operations and was promoted to Executive Director the following year. Before joining Neurogen, he had served as Global Clinical Leader for new chemical entities at Bayer Pharmaceuticals in West Haven, Connecticut, where he headed clinical development for vardenafil (Levitra[R]) and was also closely involved with registration, launch, and marketing planning. Vardenafil was approved by the FDA in 2003. Previously Dr. Sprenger was Medical Director for Bayer in South Africa, where he was responsible for the Company's Pharmaceutical Medical Department and Bayer's medical affairs in African countries. Prior to his experience at Bayer, he practiced as a pediatrician and pediatric cardiologist at hospitals in Durban and Cape Town.

Dr. Sprenger holds a B.Sc. in medicine and his M.B.B.Ch. from the University of the Witwatersrand in Johannesburg. He also holds a doctorate in immunology from the University of Cape Town.

About Neurogen

Neurogen Corporation is a drug discovery and development company focusing on small molecule drugs to improve the lives of patients suffering from disorders with significant unmet medical need, including insomnia, obesity, pain, Parkinson's disease, and restless legs syndrome (RLS). Neurogen conducts its research and development independently and, when advantageous, collaborates with world-class pharmaceutical companies to access additional resources and expertise.

Neurogen Safe Harbor Statement

The information in this press release contains certain forward-looking statements, made pursuant to applicable securities laws, which involve risks and uncertainties as detailed from time to time in Neurogen's SEC filings, including its most recent 10-K. Such forward-looking statements relate to activities, events or developments that Neurogen believes, expects or anticipates will occur in the future and include, but are not limited to, earnings estimates, statements that are not historical facts relating to Neurogen's future financial performance, its growth and business expansion, its financing plans, the timing and occurrence of anticipated clinical trials, and potential collaborations or extensions of existing collaborations. These statements are based on certain assumptions made by Neurogen based on its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. Actual results may differ materially from those expressed or implied by such forward-looking statements as a result of various factors, including, but not limited to, risks associated with the inherent uncertainty of drug research and development, difficulties or delays in development, testing, regulatory approval, production and marketing of any of Neurogen's drug candidates, adverse side effects or inadequate therapeutic efficacy or pharmacokinetic properties of Neurogen's drug candidates or other properties of drug candidates which could make them unattractive for commercialization, advancement of competitive products, dependence on corporate partners, Neurogen's ability to retain key employees, sufficiency of cash to fund Neurogen's planned operations and patent, product liability and third party reimbursement risks associated with the pharmaceutical industry. Although Neurogen believes that its expectations are based on reasonable assumptions, it can give no assurance that the anticipated results will occur. For such statements, Neurogen claims the protection of applicable laws. Future results may also differ from previously reported results. For example, positive results or safety and tolerability in one clinical study provides no assurance that this will be true in future studies. Forward-looking statements represent the judgment of Neurogen's management as of the date of this release and Neurogen disclaims any intent and does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required under applicable law.