Celldex and CuraGen Stockholders

Celldex and CuraGen Stockholders

Approve Acquisition of CuraGen Corporation

NEEDHAM, MA and Branford, CT (September 30,

2009): Celldex Therapeutics, Inc.

(Nasdaq: CLDX) and CuraGen Corporation (Nasdaq: CRGN) announced that, at

special meetings held earlier today, Celldex s stockholders approved the

issuance of shares of Celldex common stock pursuant to the previously disclosed

Agreement and Plan of Merger, dated as of May 28, 2009, by and among

Celldex, Cottrell Merger Sub, Inc. and CuraGen, and that CuraGen s

stockholders approved the Agreement and Plan of Merger.

Following the closing of the

merger contemplated by the Agreement and Plan of Merger, each outstanding share

of CuraGen common stock will convert into the right to receive 0.2739 shares of

Celldex common stock and CuraGen will become a wholly-owned subsidiary of

Celldex. Celldex will issue

approximately 16,629,981 shares of its common stock in exchange for all outstanding

shares of CuraGen common stock in connection with the merger.

anticipates that the merger will close on October 1, 2009.

About Celldex Therapeutics, Inc.

Celldex Therapeutics is an

integrated biopharmaceutical company that applies its comprehensive Precision

Targeted Immunotherapy Platform to generate a pipeline of candidates to treat

cancer and other difficult-to-treat diseases. Celldex s immunotherapy platform

includes a complementary portfolio of monoclonal antibodies, antibody-targeted

FOURTH AVENUE NEEDHAM, MA 02494-2725 USA 781-433-0771 FAX

to create novel disease-specific drug candidates. For more information, please

visit http://www.celldextherapeutics.com.

About CuraGen Corporation

Corporation is a biopharmaceutical company dedicated to improving the lives of

patients by developing promising pharmaceutical products that address unmet medical

needs. CuraGen s therapeutics are based on research into novel drug targets and

mechanisms that are believed to play a role in the underlying disease. CuraGen

has translated this research and understanding into a pipeline of protein,

antibody, and antibody-drug conjugate drugs. For more information, please visit

Safe Harbor Statement Under the Private Securities

Litigation Reform Act of 1995: This release contains forward-looking statements made pursuant

to the safe harbor provisions of the Private Securities Litigation Reform Act

of 1995, including those related to Celldex s strategic focus and the future

development and commercialization of Celldex s programs. Forward-looking

statements reflect management s current knowledge, assumptions, judgment and

expectations regarding future performance or events. Although Celldex management

believes that the expectations reflected in such statements are reasonable,

they give no assurance that such expectations will prove to be correct and you

should be aware that actual results could differ materially from those

contained in the forward-looking statements. Forward-looking statements are

subject to a number of risks and uncertainties, including, but not limited to,

the successful integration of the businesses, multiple technologies and

programs of CuraGen and Celldex; Celldex s ability to adapt APC Targeting

TechnologyTM to develop new, safe and

effective vaccines against oncology and infectious disease indications; Celldex s

ability to successfully complete product research and further development of Celldex s

programs; the uncertainties inherent in clinical testing; Celldex s ability to

manage research and development efforts for multiple products at varying stages

of development; Pfizer s and Celldex s strategy and business plans concerning

the continued development and commercialization of CDX-110; the timing, cost

and uncertainty of obtaining regulatory approvals; the failure of the market

for the combined Companies programs to continue to develop; the inability to

obtain additional capital; the inability to protect the combined Companies

intellectual property; the loss of any executive officers or key personnel or

consultants; competition; changes in the regulatory landscape or the imposition

of regulations that affect the combined Companies products; and other risks

detailed from time to time in Celldex s filings with the Securities and

Exchange Commission, including Celldex s Form 10-K for the fiscal year

ended December 31, 2008, and its Forms 10-Q and 8-K.