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 News Release - August 30, 2007

Neurogen Corporation Announces Appointment of George D. Maynard to Vice President

BRANFORD, Conn.--(HSMN NewsFeed)--Neurogen Corporation (Nasdaq: NRGN ), a small molecule drug discovery and development company, announced today that George D. Maynard, Ph.D. has been appointed to the position of Vice President, Early Development.

William H. Koster, Ph.D., President and CEO of Neurogen said, "Our robust drug discovery engine continues to supply our pipeline with excellent new drug candidates and George is responsible for the complex processes required to move the 'best of the best' into human testing. George has been a significant contributor to numerous programs at Neurogen over his career here and it gives me great pleasure to announce that he has assumed this critical role."

Dr. Maynard is responsible for the full range of functions required to advance compounds from the preclinical development stage into Phase 1 clinical studies, or to human testing, including pharmaceutical sciences, process chemistry, and preclinical safety. He reports to Dr. Stephen Uden, Executive Vice President and Head of R&D. Dr. Maynard joined the medicinal chemistry group at Neurogen in 1997 as Senior Research Fellow and assumed several positions of increasing responsibility at the Company, being promoted to Executive Director, Chemistry in 2006.

Before joining Neurogen, Dr. Maynard had served as Senior Associate Scientist at Hoechst Marion Roussel Inc., Cincinnati Research Institute, where he was a discovery chemistry project team leader. Prior to obtaining his Ph.D., he worked as a chemist at E.I. Du Pont de Nemours & Co., Experimental Station.

Dr. Maynard holds a B.S. degree in chemistry, summa cum laude, from Marietta College, Marietta, Ohio and a PhD in organic chemistry from The Ohio State University, Columbus, Ohio.

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.

Source: Neurogen

Issuer of this News Release is solely responsible for its content.
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