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<title>Neurogen Corporation Form S-8</title>
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<font color="#000000">    <font size="2">  <font face="Arial, Helvetica, sans-serif">
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  <p>SECURITIES AND EXCHANGE COMMISSION<br>
    WASHINGTON, D.C. 20549<br>
      <br>
  </p>
  <p>&nbsp;    </p>
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  </font></font></font>
<p align="center"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> FORM S-8<br>
  REGISTRATION STATEMENT<br>
  UNDER<br>
THE SECURITIES ACT OF 1933<br>
<br>
</font></p>
<p align="center">&nbsp;</p>
<p align="center"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> <font size="5">NEUROGEN CORPORATION</font><br>
    <font size="1">(Exact name of registrant as specified in its charter)<br>
    <br>
    <br>
    </font></font></p>
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    <td width="49%"><div align="center"><font face="Arial, Helvetica, sans-serif"><font color="#000000" size="2">Delaware<br>
      </font><font face="Arial, Helvetica, sans-serif"><font color="#000000" size="2">(State
      or other jurisdiction of</font></font><font color="#000000" size="2"> <br>
      </font><font face="Arial, Helvetica, sans-serif"><font color="#000000" size="2">incorporation
    or organization)</font></font><font color="#000000" size="2">    </font></font></div></td>
    <td width="51%"><div align="center"><font face="Arial, Helvetica, sans-serif"><font color="#000000" size="2">22-2845714<br>
      </font><font face="Arial, Helvetica, sans-serif"><font color="#000000" size="2">(I.R.S.
      Employer</font></font><font color="#000000" size="2"> <br>
      </font><font face="Arial, Helvetica, sans-serif"><font color="#000000" size="2"> Identification
    No.)</font></font><font color="#000000" size="2">    </font></font></div></td>
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<p align="center"><font color="#000000" size="1" face="Arial, Helvetica, sans-serif"></font><font face="Arial, Helvetica, sans-serif"><br>
</font></p>
<p align="center"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif">35 Northeast Industrial Road<br>
  Branford, Connecticut 06405<br>
  <font size="1">(Address of principal executive offices and zip code)<br>
  </font></font></p>
<p align="center"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> <font size="4">NEUROGEN CORPORATION 401(k) RETIREMENT PLAN</font><br>
    <font size="1">(Full title of the plan)</font><br>
  </font></p>
<p align="center"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> Stephen R. Davis<br>
  Executive Vice President<br>
  Neurogen Corporation<br>
  35 Northeast Industrial Road<br>
  Branford, Connecticut 06405<br>
  (203) 488-8201</font></p>
<p align="center"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> <font size="1">(Name, address and telephone number,<br>
  including area code, of agent for service)</font><br>
  </font></p>
<p align="center"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> Copies to:</font></p>
<p align="center"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> Donald B. Brant, Jr., Esq.<br>
  Milbank, Tweed, Hadley &amp; McCloy LLP<br>
  1 Chase Manhattan Plaza<br>
  New York, New York 10005</font></p>
<p align="center"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"><br>
  CALCULATION OF REGISTRATION FEE</font></p>
<table width="100%" height="79" border="1" cellpadding="0" cellspacing="2">
  <tr valign="middle" bordercolor="#000000" bgcolor="#CCCCCC">
    <td width="20%"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><font color="#000000"> Title
      of securities to<br>
      be
    registered    </font></font></div>      <div align="center"></div></td>
    <td width="20%"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><font color="#000000"> Amount
      to be<br>
    registered</font></font></div>      <div align="center"></div></td>
    <td width="20%"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><font color="#000000">Proposed
      maximum<br>
      offering
    price per share*   </font></font></div>      <div align="center"></div></td>
    <td width="20%"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><font color="#000000">Proposed
      maximum<br>
      aggregate
      offering <br>
    price*    </font></font></div>      <div align="center"></div></td>
    <td width="20%"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><font color="#000000">Amount
      of<br>
      registration
    fee    </font></font></div></td>
  </tr>
  <tr bordercolor="#000000">
    <td><font size="2" face="Arial, Helvetica, sans-serif"><font color="#000000">Common
    Stock, par value $.025 per share**</font></font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><font color="#000000">250,000</font></font></div>      <div align="center"></div></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><font color="#000000"> $3.56</font></font></div>      <div align="center"></div></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><font color="#000000">$890,000</font></font></div>      <div align="center"></div></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><font color="#000000">$72.00</font></font></div></td>
  </tr>
</table>
<p>&nbsp;</p>
<p align="left"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> *Estimated
    solely for the purpose of calculating the registration fee in accordance
    with Rule 457(h) based upon the average
    of the high and low sale
  price of the Common Stock on March 27, 2003 as reported on the NASDAQ National
Market.</font></p>
<font face="Arial, Helvetica, sans-serif"><p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> **In addition, pursuant to Rule 416(c) under
    the Securities Act of 1933, this registration statement also covers an indeterminate
    amount of interests
    to
  be offered or sold pursuant to the Neurogen Corporation 401(k) Retirement Plan.</font></p>
</font>
<br>
<page>
<p align="center"><font size="2" face="Arial, Helvetica, sans-serif"><strong><font color="#000000">PART II</font></strong></font></p>
<p align="center"><font size="2" face="Arial, Helvetica, sans-serif"><strong><font color="#000000"> INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</font></strong></font></p>
<font face="Arial, Helvetica, sans-serif"><p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"><strong>ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE.</strong></font></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> This registration
    statement is filed for the purpose of registering 250,000 additional shares
    of Common Stock by Neurogen
    Corporation (the &quot;Registrant&quot;)
  for
  use in connection with the Neurogen Corporation 401(k) Retirement Plan (the
    &quot;Plan&quot;). In accordance with General Instruction E to Form S-8, the Registrant
    incorporates by reference the contents of the Registrant's Registration Statement
    on Form
  S-8, File No. 333-07957, filed on July 10, 1996.<br>
</font></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"><strong>ITEM 8. EXHIBITS</strong>.</font></p>
</font>
<table width="100%" border="1" cellpadding="0" cellspacing="2">
  <tr bordercolor="#000000" bgcolor="#CCCCCC">
    <td width="6%"><font size="2" face="Arial, Helvetica, sans-serif"><font color="#000000">EXHIBIT<br>
    NO.</font></font></td>
    <td width="94%"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><font color="#000000">DESCRIPTION</font></font></div></td>
  </tr>
  <tr bordercolor="#000000">
    <td><font size="2" face="Arial, Helvetica, sans-serif"><font color="#000000">5.1 </font></font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif"><font color="#000000"><a href="#51">Opinion
    of Milbank, Tweed, Hadley &amp; McCloy LLP, Counsel to Registrant.</a></font></font></td>
  </tr>
  <tr bordercolor="#000000">
    <td><font size="2" face="Arial, Helvetica, sans-serif"><font color="#000000">23.1 </font></font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif"><font color="#000000"><a href="#231">Consent
    of PricewaterhouseCoopers LLP, Independent Accountants.</a></font></font></td>
  </tr>
  <tr bordercolor="#000000">
    <td valign="top"><font size="2" face="Arial, Helvetica, sans-serif"><font color="#000000">24.1</font></font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif"><font color="#000000"><a href="#241">Powers
          of Attorney of Frank C. Carlucci, William H. Koster, Stephen R. Davis,
          John Simon, Craig Saxton, Robert N. Butler, Suzanne Woolsey, Barry
    M. Bloom, Mark Novitch, Julian C. Baker and Felix J. Baker.</a></font></font></td>
  </tr>
</table>
<p>&nbsp;</p>
<font face="Arial, Helvetica, sans-serif"><p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif">The
    Registrant undertakes that the Registrant has submitted  the
    Plan
    and all amendments thereto
    to
  the Internal Revenue Service (&quot;IRS&quot;) in a timely manner and has
    made all changes required by the IRS in order to qualify the Plan.<br>
</font></p>
<page>
<p align="center"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> <strong>SIGNATURES</strong></font></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif">The Registrant.
    Pursuant to the requirements of the Securities Act of 1933, the
  registrant certifies that it has reasonable grounds to believe that it meets
  all
  of the requirements for filing on Form S-8 and has duly caused this Registration
  Statement to be signed on its behalf by the undersigned, thereunto duly
  authorized, in the City of Branford, State of Connecticut, on this 2nd day
  of
  April 2003.</font></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> NEUROGEN CORPORATION</font></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> By: /S/ STEPHEN R. DAVIS<br>
  ------------------------------------------<br>
  Stephen R. Davis<br>
  Executive Vice President and<br>
  Chief Business Officer</font></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"><br>
  Pursuant to the requirements of the Securities Act of 1933, this
  Registration Statement has been signed by the following persons in the
  capacities and on the date indicated.</font></p>
</font>
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    <td width="19%"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">SIGNATURE</font></div>
    </td>
    <td width="3%"><div align="center"></div>
    </td>
    <td width="52%"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">TITLE</font></div>
    </td>
    <td width="26%"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">DATE</font></div>
    </td>
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  <tr valign="top">
    <td colspan="4"><div align="center">
        <hr align="center" size="1" COLOR="#000000" noshade>
      </div>
        <font size="2" face="Arial, Helvetica, sans-serif">&nbsp; </font></td>
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    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">*</font></div>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
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    <td><div align="center">
        <hr align="center" size="1" COLOR="#000000" noshade>
      </div>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">Chairman of the Board
        and Director</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"> April
          2, 2003</font></div></td>
  </tr>
  <tr>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">Frank
          C. Carlucci</font></div>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></div></td>
  </tr>
  <tr>
    <td><div align="center"></div>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></div></td>
  </tr>
  <tr>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">/S/
          WILLIAM H. KOSTER</font></div>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></div></td>
  </tr>
  <tr valign="top">
    <td><div align="center">
        <hr align="center" size="1" COLOR="#000000" noshade>
        <font face="Arial, Helvetica, sans-serif">        <font size="2">                  William
        H. Koster, Ph.D.</font></font></div>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td rowspan="2"><font size="2" face="Arial, Helvetica, sans-serif">President,
        Chief Executive Officer and Director (Principal Executive Officer)</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"> April
          2, 2003</font></div></td>
  </tr>
  <tr>
    <td valign="top"><div align="center"></div>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></div></td>
  </tr>
  <tr>
    <td><div align="center"></div>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></div></td>
  </tr>
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    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">/S/
          STEPHEN R. DAVIS</font></div>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></div></td>
  </tr>
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    <td><div align="center">
        <hr align="center" size="1" COLOR="#000000" noshade>
      </div>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td rowspan="2"><font size="2" face="Arial, Helvetica, sans-serif">Executive
        Vice President, Chief Business Officer and Director (Principal Financial
        and Accounting Officer)</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"> April
          2, 2003</font></div></td>
  </tr>
  <tr>
    <td valign="top"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">Stephen
          R. Davis </font></div>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></div></td>
  </tr>
  <tr>
    <td><div align="center"></div>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></div></td>
  </tr>
  <tr>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">*</font></div>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></div></td>
  </tr>
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    <td><div align="center">
        <hr align="center" size="1" COLOR="#000000" noshade>
      </div>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">Director</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"> April
          2, 2003</font></div></td>
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    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">John
          Simon</font></div>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></div></td>
  </tr>
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    <td><div align="center"></div>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></div></td>
  </tr>
  <tr>
    <td><div align="center"></div>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></div></td>
  </tr>
  <tr>
    <td><div align="center">
        <hr align="center" size="1" COLOR="#000000" noshade>
      </div>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">Director</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"> April
          2, 2003</font></div></td>
  </tr>
  <tr>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">Robert
          N. Butler, M.D.</font></div>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></div></td>
  </tr>
  <tr>
    <td><div align="center"></div>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></div></td>
  </tr>
  <tr>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">*</font></div>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></div></td>
  </tr>
  <tr>
    <td><div align="center">
        <hr align="center" size="1" COLOR="#000000" noshade>
      </div>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">Director</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"> April
          2, 2003</font></div></td>
  </tr>
  <tr>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">Suzanne
          H. Woolsey, Ph.D.</font></div>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></div></td>
  </tr>
  <tr>
    <td><div align="center"></div>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></div></td>
  </tr>
  <tr>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">*</font></div>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></div></td>
  </tr>
  <tr>
    <td><hr align="center" size="1" COLOR="#000000" noshade>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">Director</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"> April
          2, 2003</font></div></td>
  </tr>
  <tr>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">Barry
          M. Bloom, Ph.D.</font></div>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></div></td>
  </tr>
  <tr>
    <td><div align="center"></div>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></div></td>
  </tr>
  <tr>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">*</font></div>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></div></td>
  </tr>
  <tr>
    <td><hr align="center" size="1" COLOR="#000000" noshade>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">Director</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"> April
          2, 2003</font></div></td>
  </tr>
  <tr>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">Mark
          Novitch, M.D.</font></div>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></div></td>
  </tr>
  <tr>
    <td><div align="center"></div>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></div></td>
  </tr>
  <tr>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">*</font></div>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></div></td>
  </tr>
  <tr>
    <td><hr align="center" size="1" COLOR="#000000" noshade>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">Director</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"> April
          2, 2003</font></div></td>
  </tr>
  <tr>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">Julian
          C. Baker</font></div>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></div></td>
  </tr>
  <tr>
    <td><div align="center"></div>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></div></td>
  </tr>
  <tr>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">*</font></div>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></div></td>
  </tr>
  <tr>
    <td><hr align="center" size="1" COLOR="#000000" noshade>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">Director</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"> April
          2, 2003</font></div></td>
  </tr>
  <tr>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">Felix
          J. Baker, Ph.D.</font></div>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></div></td>
  </tr>
  <tr>
    <td><div align="center"></div>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></div></td>
  </tr>
  <tr>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">*</font></div>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></div></td>
  </tr>
  <tr>
    <td><hr align="center" size="1" COLOR="#000000" noshade>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">Director</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">April
          2, 2003</font></div></td>
  </tr>
  <tr>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">Craig
          Saxton, M.D.</font></div>
    </td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></td>
    <td><div align="center"><font size="2" face="Arial, Helvetica, sans-serif">&nbsp;</font></div></td>
  </tr>
</table>
<font face="Arial, Helvetica, sans-serif"><p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif">*By: /S/ STEPHEN R. DAVIS AND WILLIAM H. KOSTER<br>
  -------------------------------------------------------------------------------------<br>
  Stephen R. Davis and William H. Koster, Attorneys-in-Fact</font></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"><br>
  The Plan. Pursuant to the requirements of the Securities Act of 1933, the
  trustees (or other persons who administer the Plan) have duly caused this registration
      statement to be signed on its behalf by the undersigned, thereunto duly
      authorized,
      in
      the City
      of
      Branford,
      State
  of
  Connecticut, on this 2nd day of April 2003.</font></p>
</font>
<p>&nbsp;</p>
<p align="right"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif">NEUROGEN CORPORATION 401(K) RETIREMENT PLAN</font></p>
<p align="right"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> By: /s/ STEPHEN R. DAVIS<br>
  ---------------------------------------<br>
  Stephen R. Davis<br>
  Plan Administrator</font></p>
<p></p>

<p align="right"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> <strong><a name="51"></a>EXHIBIT 5.1</strong></font></p>
<p></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> April
    2, 2003</font></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"><br>
  Neurogen Corporation<br>
  35 Northeast Industrial Road<br>
  Branford, CT 06405</font></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif">Dear Sirs:</font></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> We refer
    to the Registration Statement on Form S-8 (the &quot;Registration
  Statement&quot;) which Neurogen Corporation, a Delaware corporation (the &quot;Company&quot;),
  proposes to file with the Securities and Exchange Commission for the purpose
  of
  registering under the Securities Act of 1933, as amended, 250,000 shares of
  Common Stock of the Company, par value $.025 per share (the &quot;Shares&quot;)
  pursuant
  to the Neurogen Corporation 401(k) Retirement Plan (the &quot;Plan&quot;).
  In connection
  with the foregoing registration, we have acted as counsel for the Company,
  and
  as such counsel, we are familiar with the corporate proceedings taken by the
  Company in connection with the authorization and sale of the Shares and with
  the
  provisions of the Plan, in accordance with which the sales of the Shares are
  to
  be made, in the form incorporated by reference as an exhibit to the Registration
  Statement.</font></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> We have
    examined originals, or copies certified to our satisfaction, of such corporate
    records of the Company, agreements and other instruments,
  certificates of public officials, certificates of officers and representatives
  of the Company and other documents as we have deemed  necessary to require
  as
  a basis for the opinions hereinafter expressed. In such examination we have
  assumed the genuineness of all signatures, the authenticity of all documents
  submitted to us as originals, the conformity with the original documents of
  all
  documents submitted to us as copies and the authenticity of the originals of
  such latter documents. As to various questions of fact material to such opinions
  we have, when relevant facts were not independently established, relied upon
  certifications by officers of the Company and other appropriate persons and
  statements contained in the Registration Statement.</font></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> Based
    upon the foregoing, and having regard to legal considerations which we deem
    relevant, we are of the opinion that the Shares have been duly
  authorized and, when certificates representing the Shares shall have been
  executed in facsimile by proper officers of the Company, authenticated by the
  transfer agent and registrar for the Shares, delivered to persons entitled
  thereto pursuant to the Plan in accordance with the terms thereof and paid
  for
  at the prices specified therein, the Shares will have been legally and validly
  issued, fully paid and nonassessable.</font></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> We hereby
    consent to the filing of this opinion as Exhibit 5.1 to the Registration
  Statement.</font></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> Very truly yours,</font></p>
<p></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> Milbank,
    Tweed, Hadley &amp; McCloy
LLP</font></p>
<p></p>

<p align="right"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> <strong><a name="231"></a>EXHIBIT 23.1</strong></font></p>
<p align="center"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"><br>
    <strong>CONSENT OF INDEPENDENT ACCOUNTANTS</strong></font></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"><br>
  We hereby consent to the incorporation by reference in this Registration
  Statement on Form S-8 of our report dated February 14, 2003
  relating to the financial statements of Neurogen Corporation, which appears
  in
  Neurogen Corporation's Annual Report on Form 10-K for the year ended December
  31, 2002.</font></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> We also
    consent to the incorporation by reference in this Registration Statement
    of our report dated June 14, 2002 relating to the financial
  statements of Neurogen Corporation 401(k) Retirement Plan, which appears in
    the Annual Report of  Neurogen Corporation 401(k) Retirement Plan on Form
    11-K for
    the year
    ended
    December
    31, 2001.</font></p>
<p align="left"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"><br>
  PricewaterhouseCoopers LLP<br>
  Hartford, Connecticut<br>
 April
  1, 2003</font></p>
<p align="right"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"><br>
  <br>
  <br>
  <br>
  <strong><a name="241"></a>EXHIBIT 24.1</strong></font></p>
<p></p>
<p align="center"><font size="2" face="Arial, Helvetica, sans-serif"><strong><font color="#000000"> POWER OF ATTORNEY</font></strong></font></p>
<p></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> KNOW ALL
    YE PERSONS BY THESE PRESENTS, that the undersigned does hereby make, constitute
    and appoint each of William H. Koster and Stephen R. Davis,
    his
  or her attorney-in-fact and agent with full power of substitution and
  resubstitution for and in his or her name, place and stead, in any and all
  capacities, to execute for and on his or her behalf a Registration Statement
  pursuant the Securities Act of 1933, as amended, on Form S-8 relating to (a)
  the
  sale and/or issuance of up to an additional 250,000 shares of Neurogen
  Corporation Stock in respect of the Neurogen Corporation 401 (k) Retirement
  Plan
  (the &quot;Plan&quot;), and (b) an indeterminate number of interests in the
  Plan, to be so
  registered and any and all amendments to the foregoing Registration Statement
  on
  Form S-8, which amendments may make such changes in the Registration Statement
  on Form S-8 as such attorney-in-fact deems appropriate, and any other documents
  and instruments incidental thereto, and to file the same, with all exhibits
  thereto and all documents in connection therewith, with the Securities and
  Exchange Commission and the NASDAQ Stock Market, granting unto said
  attorney-in-fact and agent, full power and authority to do and perform each
  and
  every act and thing requisite and necessary to be done in and about the
  premises, as fully to all intents and purposes as the undersigned might or
  could
  do in person, hereby ratifying and confirming all that said attorney-in-fact
  and
  agent, or his substitute or substitutes, may lawfully do or cause to be done
  by
  virtue hereof.</font></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> IN WITNESS
    WHEREOF, the undersigned has executed this Power of Attorney this 2nd day
  of April 2003.</font></p>
<p align="right"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"><br>
  /s/FELIX J. BAKER<br>
  -------------------------------<br>
  Felix J. Baker</font></p>
<p align="right"></p>
<p align="right"></p>
<p align="right"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> <strong>EXHIBIT 24.1</strong></font></p>
<p align="center"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"><br>
    <strong>POWER OF ATTORNEY</strong></font></p>
<p></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> KNOW ALL
    YE PERSONS BY THESE PRESENTS, that the undersigned does hereby make, constitute
    and appoint each of William H. Koster and Stephen R. Davis,
    his
  or her attorney-in-fact and agent with full power of substitution and
  resubstitution for and in his or her name, place and stead, in any and all
  capacities, to execute for and on his or her behalf a Registration Statement
  pursuant the Securities Act of 1933, as amended, on Form S-8 relating to (a)
  the
  sale and/or issuance of up to an additional 250,000 shares of Neurogen
  Corporation Stock in respect of the Neurogen Corporation 401 (k) Retirement
  Plan
  (the &quot;Plan&quot;), and (b) an indeterminate number of interests in the
  Plan, to be so
  registered and any and all amendments to the foregoing Registration Statement
  on
  Form S-8, which amendments may make such changes in the Registration Statement
  on Form S-8 as such attorney-in-fact deems appropriate, and any other documents
  and instruments incidental thereto, and to file the same, with all exhibits
  thereto and all documents in connection therewith, with the Securities and
  Exchange Commission and the NASDAQ Stock Market, granting unto said
  attorney-in-fact and agent, full power and authority to do and perform each
  and
  every act and thing requisite and necessary to be done in and about the
  premises, as fully to all intents and purposes as the undersigned might or
  could
  do in person, hereby ratifying and confirming all that said attorney-in-fact
  and
  agent, or his substitute or substitutes, may lawfully do or cause to be done
  by
  virtue hereof.</font></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> IN WITNESS
    WHEREOF, the undersigned has executed this Power of Attorney this 2nd day
  of April 2003.</font></p>
<p align="right"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> /s/JULIAN C. BAKER<br>
  -------------------------------<br>
  Julian C. Baker</font></p>
<p></p>
<p></p>
<p align="right"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> <strong>EXHIBIT 24.1</strong></font></p>
<p align="center"><font size="2" face="Arial, Helvetica, sans-serif"><strong><font color="#000000"><br>
  POWER OF ATTORNEY</font></strong></font></p>
<p></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> KNOW ALL
    YE PERSONS BY THESE PRESENTS, that the undersigned does hereby make, constitute
    and appoint each of William H. Koster and Stephen R. Davis,
    his
  or her attorney-in-fact and agent with full power of substitution and
  resubstitution for and in his or her name, place and stead, in any and all
  capacities, to execute for and on his or her behalf a Registration Statement
  pursuant the Securities Act of 1933, as amended, on Form S-8 relating to (a)
  the
  sale and/or issuance of up to an additional 250,000 shares of Neurogen
  Corporation Stock in respect of the Neurogen Corporation 401 (k) Retirement
  Plan
  (the &quot;Plan&quot;), and (b) an indeterminate number of interests in the
  Plan, to be so
  registered and any and all amendments to the foregoing Registration Statement
  on
  Form S-8, which amendments may make such changes in the Registration Statement
  on Form S-8 as such attorney-in-fact deems appropriate, and any other documents
  and instruments incidental thereto, and to file the same, with all exhibits
  thereto and all documents in connection therewith, with the Securities and
  Exchange Commission and the NASDAQ Stock Market, granting unto said
  attorney-in-fact and agent, full power and authority to do and perform each
  and
  every act and thing requisite and necessary to be done in and about the
  premises, as fully to all intents and purposes as the undersigned might or
  could
  do in person, hereby ratifying and confirming all that said attorney-in-fact
  and
  agent, or his substitute or substitutes, may lawfully do or cause to be done
  by
  virtue hereof.</font></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> IN WITNESS
    WHEREOF, the undersigned has executed this Power of Attorney this 2nd day
  of April 2003.</font></p>
<p align="right"></p>
<p align="right"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> /s/BARRY M. BLOOM<br>
  -------------------------------<br>
  Barry M. Bloom</font></p>
<p align="right"></p>
<p align="right"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"><br>
    <strong>EXHIBIT 24.1</strong></font></p>
<p align="center"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"><br>
    <strong>POWER OF ATTORNEY</strong></font></p>
<p></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> KNOW ALL
    YE PERSONS BY THESE PRESENTS, that the undersigned does hereby make, constitute
    and appoint each of William H. Koster and Stephen R. Davis,
    his
  or her attorney-in-fact and agent with full power of substitution and
  resubstitution for and in his or her name, place and stead, in any and all
  capacities, to execute for and on his or her behalf a Registration Statement
  pursuant the Securities Act of 1933, as amended, on Form S-8 relating to (a)
  the
  sale and/or issuance of up to an additional 250,000 shares of Neurogen
  Corporation Stock in respect of the Neurogen Corporation 401 (k) Retirement
  Plan
  (the &quot;Plan&quot;), and (b) an indeterminate number of interests in the
  Plan, to be so
  registered and any and all amendments to the foregoing Registration Statement
  on
  Form S-8, which amendments may make such changes in the Registration Statement
  on Form S-8 as such attorney-in-fact deems appropriate, and any other documents
  and instruments incidental thereto, and to file the same, with all exhibits
  thereto and all documents in connection therewith, with the Securities and
  Exchange Commission and the NASDAQ Stock Market, granting unto said
  attorney-in-fact and agent, full power and authority to do and perform each
  and
  every act and thing requisite and necessary to be done in and about the
  premises, as fully to all intents and purposes as the undersigned might or
  could
  do in person, hereby ratifying and confirming all that said attorney-in-fact
  and
  agent, or his substitute or substitutes, may lawfully do or cause to be done
  by
  virtue hereof.</font></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> IN WITNESS
    WHEREOF, the undersigned has executed this Power of Attorney this 2nd day
  of April 2003.</font></p>
<p align="right"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"><br>
  /s/ROBERT N. BUTLER<br>
  -------------------------------<br>
  Robert N. Butler</font></p>
<p align="right"></p>
<p align="right"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"><strong><br>
  EXHIBIT 24.1</strong></font></p>
<p align="center"><font size="2" face="Arial, Helvetica, sans-serif"><strong><font color="#000000"><br>
  POWER OF ATTORNEY</font></strong></font></p>
<p></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> KNOW ALL
    YE PERSONS BY THESE PRESENTS, that the undersigned does hereby make, constitute
    and appoint each of William H. Koster and Stephen R. Davis,
    his
  or her attorney-in-fact and agent with full power of substitution and
  resubstitution for and in his or her name, place and stead, in any and all
  capacities, to execute for and on his or her behalf a Registration Statement
  pursuant the Securities Act of 1933, as amended, on Form S-8 relating to (a)
  the
  sale and/or issuance of up to an additional 250,000 shares of Neurogen
  Corporation Stock in respect of the Neurogen Corporation 401 (k) Retirement
  Plan
  (the &quot;Plan&quot;), and (b) an indeterminate number of interests in the
  Plan, to be so
  registered and any and all amendments to the foregoing Registration Statement
  on
  Form S-8, which amendments may make such changes in the Registration Statement
  on Form S-8 as such attorney-in-fact deems appropriate, and any other documents
  and instruments incidental thereto, and to file the same, with all exhibits
  thereto and all documents in connection therewith, with the Securities and
  Exchange Commission and the NASDAQ Stock Market, granting unto said
  attorney-in-fact and agent, full power and authority to do and perform each
  and
  every act and thing requisite and necessary to be done in and about the
  premises, as fully to all intents and purposes as the undersigned might or
  could
  do in person, hereby ratifying and confirming all that said attorney-in-fact
  and
  agent, or his substitute or substitutes, may lawfully do or cause to be done
  by
  virtue hereof.</font></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> IN WITNESS
    WHEREOF, the undersigned has executed this Power of Attorney this 2nd day
  of April 2003.</font></p>
<p align="right"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"><br>
  /s/FRANK C. CARLUCCI<br>
  -------------------------------<br>
  Frank C. Carlucci</font></p>
<p></p>
<p></p>
<p align="right"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> <strong>EXHIBIT 24.1</strong></font></p>
<p align="center"><font size="2" face="Arial, Helvetica, sans-serif"><strong><font color="#000000"><br>
  POWER OF ATTORNEY</font></strong></font></p>
<p></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> KNOW ALL
    YE PERSONS BY THESE PRESENTS, that the undersigned does hereby make, constitute
    and appoint each of William H. Koster and Stephen R. Davis,
    his
  or her attorney-in-fact and agent with full power of substitution and
  resubstitution for and in his or her name, place and stead, in any and all
  capacities, to execute for and on his or her behalf a Registration Statement
  pursuant the Securities Act of 1933, as amended, on Form S-8 relating to (a)
  the
  sale and/or issuance of up to an additional 250,000 shares of Neurogen
  Corporation Stock in respect of the Neurogen Corporation 401 (k) Retirement
  Plan
  (the &quot;Plan&quot;), and (b) an indeterminate number of interests in the
  Plan, to be so
  registered and any and all amendments to the foregoing Registration Statement
  on
  Form S-8, which amendments may make such changes in the Registration Statement
  on Form S-8 as such attorney-in-fact deems appropriate, and any other documents
  and instruments incidental thereto, and to file the same, with all exhibits
  thereto and all documents in connection therewith, with the Securities and
  Exchange Commission and the NASDAQ Stock Market, granting unto said
  attorney-in-fact and agent, full power and authority to do and perform each
  and
  every act and thing requisite and necessary to be done in and about the
  premises, as fully to all intents and purposes as the undersigned might or
  could
  do in person, hereby ratifying and confirming all that said attorney-in-fact
  and
  agent, or his substitute or substitutes, may lawfully do or cause to be done
  by
  virtue hereof.</font></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> IN WITNESS
    WHEREOF, the undersigned has executed this Power of Attorney this 2nd day
  of April 2003.</font></p>
<p align="right"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"><br>
  /s/STEPHEN R. DAVIS<br>
  -------------------------------<br>
  Stephen R. Davis</font></p>
<p></p>
<p align="right"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"><br>
    <strong>EXHIBIT 24.1</strong></font></p>
<p align="center"><font size="2" face="Arial, Helvetica, sans-serif"><strong><font color="#000000"><br>
  POWER OF ATTORNEY</font></strong></font></p>
<p align="center"></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> KNOW ALL
    YE PERSONS BY THESE PRESENTS, that the undersigned does hereby make, constitute
    and appoint each of William H. Koster and Stephen R. Davis,
    his
  or her attorney-in-fact and agent with full power of substitution and
  resubstitution for and in his or her name, place and stead, in any and all
  capacities, to execute for and on his or her behalf a Registration Statement
  pursuant the Securities Act of 1933, as amended, on Form S-8 relating to (a)
  the
  sale and/or issuance of up to an additional 250,000 shares of Neurogen
  Corporation Stock in respect of the Neurogen Corporation 401 (k) Retirement
  Plan
  (the &quot;Plan&quot;), and (b) an indeterminate number of interests in the
  Plan, to be so
  registered and any and all amendments to the foregoing Registration Statement
  on
  Form S-8, which amendments may make such changes in the Registration Statement
  on Form S-8 as such attorney-in-fact deems appropriate, and any other documents
  and instruments incidental thereto, and to file the same, with all exhibits
  thereto and all documents in connection therewith, with the Securities and
  Exchange Commission and the NASDAQ Stock Market, granting unto said
  attorney-in-fact and agent, full power and authority to do and perform each
  and
  every act and thing requisite and necessary to be done in and about the
  premises, as fully to all intents and purposes as the undersigned might or
  could
  do in person, hereby ratifying and confirming all that said attorney-in-fact
  and
  agent, or his substitute or substitutes, may lawfully do or cause to be done
  by
  virtue hereof.</font></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> IN WITNESS
    WHEREOF, the undersigned has executed this Power of Attorney this 2nd day
  of April 2003.</font></p>
<p align="right"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> /s/WILLIAM H. KOSTER<br>
  -------------------------------<br>
  William H. Koster</font></p>
<p align="center"></p>
<p align="center"></p>
<p align="right"><font size="2" face="Arial, Helvetica, sans-serif"><strong><font color="#000000"> EXHIBIT 24.1</font></strong></font></p>
<p align="center"><font size="2" face="Arial, Helvetica, sans-serif"><strong><font color="#000000"><br>
  POWER OF ATTORNEY</font></strong></font></p>
<p align="center"></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> KNOW ALL
    YE PERSONS BY THESE PRESENTS, that the undersigned does hereby make, constitute
    and appoint each of William H. Koster and Stephen R. Davis,
    his
  or her attorney-in-fact and agent with full power of substitution and
  resubstitution for and in his or her name, place and stead, in any and all
  capacities, to execute for and on his or her behalf a Registration Statement
  pursuant the Securities Act of 1933, as amended, on Form S-8 relating to (a)
  the
  sale and/or issuance of up to an additional 250,000 shares of Neurogen
  Corporation Stock in respect of the Neurogen Corporation 401 (k) Retirement
  Plan
  (the &quot;Plan&quot;), and (b) an indeterminate number of interests in the
  Plan, to be so
  registered and any and all amendments to the foregoing Registration Statement
  on
  Form S-8, which amendments may make such changes in the Registration Statement
  on Form S-8 as such attorney-in-fact deems appropriate, and any other documents
  and instruments incidental thereto, and to file the same, with all exhibits
  thereto and all documents in connection therewith, with the Securities and
  Exchange Commission and the NASDAQ Stock Market, granting unto said
  attorney-in-fact and agent, full power and authority to do and perform each
  and
  every act and thing requisite and necessary to be done in and about the
  premises, as fully to all intents and purposes as the undersigned might or
  could
  do in person, hereby ratifying and confirming all that said attorney-in-fact
  and
  agent, or his substitute or substitutes, may lawfully do or cause to be done
  by
  virtue hereof.</font></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> IN WITNESS
    WHEREOF, the undersigned has executed this Power of Attorney this 2nd day
  of April 2003.</font></p>
<p align="right"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> /S/ MARK NOVITCH<br>
  -------------------------------<br>
  Mark Novitch</font></p>
<p align="right"></p>
<p align="center"></p>
<p align="right"><font size="2" face="Arial, Helvetica, sans-serif"><strong><font color="#000000"> EXHIBIT 24.1</font></strong></font></p>
<p align="center"><font size="2" face="Arial, Helvetica, sans-serif"><strong><font color="#000000"><br>
  POWER OF ATTORNEY</font></strong></font></p>
<p></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> KNOW ALL
    YE PERSONS BY THESE PRESENTS, that the undersigned does hereby make, constitute
    and appoint each of William H. Koster and Stephen R. Davis,
    his
  or her attorney-in-fact and agent with full power of substitution and
  resubstitution for and in his or her name, place and stead, in any and all
  capacities, to execute for and on his or her behalf a Registration Statement
  pursuant the Securities Act of 1933, as amended, on Form S-8 relating to (a)
  the
  sale and/or issuance of up to an additional 250,000 shares of Neurogen
  Corporation Stock in respect of the Neurogen Corporation 401 (k) Retirement
  Plan
  (the &quot;Plan&quot;), and (b) an indeterminate number of interests in the
  Plan, to be so
  registered and any and all amendments to the foregoing Registration Statement
  on
  Form S-8, which amendments may make such changes in the Registration Statement
  on Form S-8 as such attorney-in-fact deems appropriate, and any other documents
  and instruments incidental thereto, and to file the same, with all exhibits
  thereto and all documents in connection therewith, with the Securities and
  Exchange Commission and the NASDAQ Stock Market, granting unto said
  attorney-in-fact and agent, full power and authority to do and perform each
  and
  every act and thing requisite and necessary to be done in and about the
  premises, as fully to all intents and purposes as the undersigned might or
  could
  do in person, hereby ratifying and confirming all that said attorney-in-fact
  and
  agent, or his substitute or substitutes, may lawfully do or cause to be done
  by
  virtue hereof.</font></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> IN WITNESS
    WHEREOF, the undersigned has executed this Power of Attorney this 2nd day
  of April 2003.</font></p>
<p align="right"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> /s/CRAIG SAXTON<br>
  -------------------------------<br>
  Craig Saxton</font></p>
<p align="right"></p>
<p></p>
<p align="right"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> <strong>EXHIBIT 24.1</strong></font></p>
<p align="center"><font size="2" face="Arial, Helvetica, sans-serif"><strong><font color="#000000"><br>
  POWER OF ATTORNEY</font></strong></font></p>
<p></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> KNOW ALL
    YE PERSONS BY THESE PRESENTS, that the undersigned does hereby make, constitute
    and appoint each of William H. Koster and Stephen R. Davis,
    his
  or her attorney-in-fact and agent with full power of substitution and
  resubstitution for and in his or her name, place and stead, in any and all
  capacities, to execute for and on his or her behalf a Registration Statement
  pursuant the Securities Act of 1933, as amended, on Form S-8 relating to (a)
  the
  sale and/or issuance of up to an additional 250,000 shares of Neurogen
  Corporation Stock in respect of the Neurogen Corporation 401 (k) Retirement
  Plan
  (the &quot;Plan&quot;), and (b) an indeterminate number of interests in the
  Plan, to be so
  registered and any and all amendments to the foregoing Registration Statement
  on
  Form S-8, which amendments may make such changes in the Registration Statement
  on Form S-8 as such attorney-in-fact deems appropriate, and any other documents
  and instruments incidental thereto, and to file the same, with all exhibits
  thereto and all documents in connection therewith, with the Securities and
  Exchange Commission and the NASDAQ Stock Market, granting unto said
  attorney-in-fact and agent, full power and authority to do and perform each
  and
  every act and thing requisite and necessary to be done in and about the
  premises, as fully to all intents and purposes as the undersigned might or
  could
  do in person, hereby ratifying and confirming all that said attorney-in-fact
  and
  agent, or his substitute or substitutes, may lawfully do or cause to be done
  by<br>
  virtue hereof.</font></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> IN WITNESS
    WHEREOF, the undersigned has executed this Power of Attorney this 2nd day
  of April 2003.</font></p>
<p align="right"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> /s/JOHN SIMON<br>
  -------------------------------<br>
  John Simon</font></p>
<p></p>
<p></p>
<p align="right"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> <strong>EXHIBIT 24.1</strong></font></p>
<p align="center"><font size="2" face="Arial, Helvetica, sans-serif"><strong><font color="#000000"><br>
  POWER OF ATTORNEY</font></strong></font></p>
<p></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> KNOW ALL
    YE PERSONS BY THESE PRESENTS, that the undersigned does hereby make, constitute
    and appoint each of William H. Koster and Stephen R. Davis,
    his
  or her attorney-in-fact and agent with full power of substitution and
  resubstitution for and in his or her name, place and stead, in any and all
  capacities, to execute for and on his or her behalf a Registration Statement
  pursuant the Securities Act of 1933, as amended, on Form S-8 relating to (a)
  the
  sale and/or issuance of up to an additional 250,000 shares of Neurogen
  Corporation Stock in respect of the Neurogen Corporation 401 (k) Retirement
  Plan
  (the &quot;Plan&quot;), and (b) an indeterminate number of interests in the
  Plan, to be so
  registered and any and all amendments to the foregoing Registration Statement
  on
  Form S-8, which amendments may make such changes in the Registration Statement
  on Form S-8 as such attorney-in-fact deems appropriate, and any other documents
  and instruments incidental thereto, and to file the same, with all exhibits
  thereto and all documents in connection therewith, with the Securities and
  Exchange Commission and the NASDAQ Stock Market, granting unto said
  attorney-in-fact and agent, full power and authority to do and perform each
  and
  every act and thing requisite and necessary to be done in and about the
  premises, as fully to all intents and purposes as the undersigned might or
  could
  do in person, hereby ratifying and confirming all that said attorney-in-fact
  and
  agent, or his substitute or substitutes, may lawfully do or cause to be done
  by
  virtue hereof.</font></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> IN WITNESS
    WHEREOF, the undersigned has executed this Power of Attorney this 2nd day
  of April 2003.</font></p>
<p align="right"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> /s/SUZANNE WOOLSEY<br>
  -------------------------------<br>
  Suzanne Woolsey</font></p>
<p><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"><br>
</font></p>

</body>
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{"company-data": {"conformed-name": "NEUROGEN CORP", "cik": "0000849043", "assigned-sic": "2834", "irs-number": "222845714", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-104261", "film-number": "03636776"}, "business-address": {"street1": "35 NORTHEAST INDUSTRIAL RD", "city": "BRANFORD", "state": "CT", "zip": "06405", "phone": "2034888201"}, "mail-address": {"street1": "35 NORTHEAST INDUSTRIAL RD", "city": "BRANFORD", "state": "CT", "zip": "06405"}}
Neurogen Corporation Form S-8
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
NEUROGEN CORPORATION
(Exact name of registrant as specified in its charter)
Delaware
(State
      or other jurisdiction of
incorporation
    or organization)
22-2845714
(I.R.S.
      Employer
Identification
    No.)
35 Northeast Industrial Road
Branford, Connecticut 06405
(Address of principal executive offices and zip code)
NEUROGEN CORPORATION 401(k) RETIREMENT PLAN
(Full title of the plan)
Stephen R. Davis
Executive Vice President
Neurogen Corporation
35 Northeast Industrial Road
Branford, Connecticut 06405
(203) 488-8201
(Name, address and telephone number,
including area code, of agent for service)
Copies to:
Donald B. Brant, Jr., Esq.
Milbank, Tweed, Hadley & McCloy LLP
1 Chase Manhattan Plaza
New York, New York 10005
CALCULATION OF REGISTRATION FEE
Title
      of securities to
be
    registered
Amount
      to be
registered
Proposed
      maximum
offering
    price per share*
Proposed
      maximum
aggregate
      offering
price*
Amount
      of
registration
    fee
Common
    Stock, par value $.025 per share**
250,000
$3.56
$890,000
$72.00
*Estimated
    solely for the purpose of calculating the registration fee in accordance
    with Rule 457(h) based upon the average
    of the high and low sale
  price of the Common Stock on March 27, 2003 as reported on the NASDAQ National
Market.
**In addition, pursuant to Rule 416(c) under
    the Securities Act of 1933, this registration statement also covers an indeterminate
    amount of interests
    to
  be offered or sold pursuant to the Neurogen Corporation 401(k) Retirement Plan.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE.
This registration
    statement is filed for the purpose of registering 250,000 additional shares
    of Common Stock by Neurogen
    Corporation (the "Registrant")
  for
  use in connection with the Neurogen Corporation 401(k) Retirement Plan (the
    "Plan"). In accordance with General Instruction E to Form S-8, the Registrant
    incorporates by reference the contents of the Registrant's Registration Statement
    on Form
  S-8, File No. 333-07957, filed on July 10, 1996.
ITEM 8. EXHIBITS
.
EXHIBIT
NO.
DESCRIPTION
5.1
Opinion
    of Milbank, Tweed, Hadley & McCloy LLP, Counsel to Registrant.
23.1
Consent
    of PricewaterhouseCoopers LLP, Independent Accountants.
24.1
Powers
          of Attorney of Frank C. Carlucci, William H. Koster, Stephen R. Davis,
          John Simon, Craig Saxton, Robert N. Butler, Suzanne Woolsey, Barry
    M. Bloom, Mark Novitch, Julian C. Baker and Felix J. Baker.
The
    Registrant undertakes that the Registrant has submitted  the
    Plan
    and all amendments thereto
    to
  the Internal Revenue Service ("IRS") in a timely manner and has
    made all changes required by the IRS in order to qualify the Plan.
SIGNATURES
The Registrant.
    Pursuant to the requirements of the Securities Act of 1933, the
  registrant certifies that it has reasonable grounds to believe that it meets
  all
  of the requirements for filing on Form S-8 and has duly caused this Registration
  Statement to be signed on its behalf by the undersigned, thereunto duly
  authorized, in the City of Branford, State of Connecticut, on this 2nd day
  of
  April 2003.
NEUROGEN CORPORATION
By: /S/ STEPHEN R. DAVIS
------------------------------------------
Stephen R. Davis
Executive Vice President and
Chief Business Officer
Pursuant to the requirements of the Securities Act of 1933, this
  Registration Statement has been signed by the following persons in the
  capacities and on the date indicated.
SIGNATURE
TITLE
DATE
*
Chairman of the Board
        and Director
April
          2, 2003
Frank
          C. Carlucci
/S/
          WILLIAM H. KOSTER
William
        H. Koster, Ph.D.
President,
        Chief Executive Officer and Director (Principal Executive Officer)
April
          2, 2003
/S/
          STEPHEN R. DAVIS
Executive
        Vice President, Chief Business Officer and Director (Principal Financial
        and Accounting Officer)
April
          2, 2003
Stephen
          R. Davis
*
Director
April
          2, 2003
John
          Simon
Director
April
          2, 2003
Robert
          N. Butler, M.D.
*
Director
April
          2, 2003
Suzanne
          H. Woolsey, Ph.D.
*
Director
April
          2, 2003
Barry
          M. Bloom, Ph.D.
*
Director
April
          2, 2003
Mark
          Novitch, M.D.
*
Director
April
          2, 2003
Julian
          C. Baker
*
Director
April
          2, 2003
Felix
          J. Baker, Ph.D.
*
Director
April
          2, 2003
Craig
          Saxton, M.D.
*By: /S/ STEPHEN R. DAVIS AND WILLIAM H. KOSTER
-------------------------------------------------------------------------------------
Stephen R. Davis and William H. Koster, Attorneys-in-Fact
The Plan. Pursuant to the requirements of the Securities Act of 1933, the
  trustees (or other persons who administer the Plan) have duly caused this registration
      statement to be signed on its behalf by the undersigned, thereunto duly
      authorized,
      in
      the City
      of
      Branford,
      State
  of
  Connecticut, on this 2nd day of April 2003.
NEUROGEN CORPORATION 401(K) RETIREMENT PLAN
By: /s/ STEPHEN R. DAVIS
---------------------------------------
Stephen R. Davis
Plan Administrator
EXHIBIT 5.1
April
    2, 2003
Neurogen Corporation
35 Northeast Industrial Road
Branford, CT 06405
Dear Sirs:
We refer
    to the Registration Statement on Form S-8 (the "Registration
  Statement") which Neurogen Corporation, a Delaware corporation (the "Company"),
  proposes to file with the Securities and Exchange Commission for the purpose
  of
  registering under the Securities Act of 1933, as amended, 250,000 shares of
  Common Stock of the Company, par value $.025 per share (the "Shares")
  pursuant
  to the Neurogen Corporation 401(k) Retirement Plan (the "Plan").
  In connection
  with the foregoing registration, we have acted as counsel for the Company,
  and
  as such counsel, we are familiar with the corporate proceedings taken by the
  Company in connection with the authorization and sale of the Shares and with
  the
  provisions of the Plan, in accordance with which the sales of the Shares are
  to
  be made, in the form incorporated by reference as an exhibit to the Registration
  Statement.
We have
    examined originals, or copies certified to our satisfaction, of such corporate
    records of the Company, agreements and other instruments,
  certificates of public officials, certificates of officers and representatives
  of the Company and other documents as we have deemed  necessary to require
  as
  a basis for the opinions hereinafter expressed. In such examination we have
  assumed the genuineness of all signatures, the authenticity of all documents
  submitted to us as originals, the conformity with the original documents of
  all
  documents submitted to us as copies and the authenticity of the originals of
  such latter documents. As to various questions of fact material to such opinions
  we have, when relevant facts were not independently established, relied upon
  certifications by officers of the Company and other appropriate persons and
  statements contained in the Registration Statement.
Based
    upon the foregoing, and having regard to legal considerations which we deem
    relevant, we are of the opinion that the Shares have been duly
  authorized and, when certificates representing the Shares shall have been
  executed in facsimile by proper officers of the Company, authenticated by the
  transfer agent and registrar for the Shares, delivered to persons entitled
  thereto pursuant to the Plan in accordance with the terms thereof and paid
  for
  at the prices specified therein, the Shares will have been legally and validly
  issued, fully paid and nonassessable.
We hereby
    consent to the filing of this opinion as Exhibit 5.1 to the Registration
  Statement.
Very truly yours,
Milbank,
    Tweed, Hadley & McCloy
LLP
EXHIBIT 23.1
CONSENT OF INDEPENDENT ACCOUNTANTS
We hereby consent to the incorporation by reference in this Registration
  Statement on Form S-8 of our report dated February 14, 2003
  relating to the financial statements of Neurogen Corporation, which appears
  in
  Neurogen Corporation's Annual Report on Form 10-K for the year ended December
  31, 2002.
We also
    consent to the incorporation by reference in this Registration Statement
    of our report dated June 14, 2002 relating to the financial
  statements of Neurogen Corporation 401(k) Retirement Plan, which appears in
    the Annual Report of  Neurogen Corporation 401(k) Retirement Plan on Form
    11-K for
    the year
    ended
    December
    31, 2001.
PricewaterhouseCoopers LLP
Hartford, Connecticut
April
  1, 2003
EXHIBIT 24.1
POWER OF ATTORNEY
KNOW ALL
    YE PERSONS BY THESE PRESENTS, that the undersigned does hereby make, constitute
    and appoint each of William H. Koster and Stephen R. Davis,
    his
  or her attorney-in-fact and agent with full power of substitution and
  resubstitution for and in his or her name, place and stead, in any and all
  capacities, to execute for and on his or her behalf a Registration Statement
  pursuant the Securities Act of 1933, as amended, on Form S-8 relating to (a)
  the
  sale and/or issuance of up to an additional 250,000 shares of Neurogen
  Corporation Stock in respect of the Neurogen Corporation 401 (k) Retirement
  Plan
  (the "Plan"), and (b) an indeterminate number of interests in the
  Plan, to be so
  registered and any and all amendments to the foregoing Registration Statement
  on
  Form S-8, which amendments may make such changes in the Registration Statement
  on Form S-8 as such attorney-in-fact deems appropriate, and any other documents
  and instruments incidental thereto, and to file the same, with all exhibits
  thereto and all documents in connection therewith, with the Securities and
  Exchange Commission and the NASDAQ Stock Market, granting unto said
  attorney-in-fact and agent, full power and authority to do and perform each
  and
  every act and thing requisite and necessary to be done in and about the
  premises, as fully to all intents and purposes as the undersigned might or
  could
  do in person, hereby ratifying and confirming all that said attorney-in-fact
  and
  agent, or his substitute or substitutes, may lawfully do or cause to be done
  by
  virtue hereof.
IN WITNESS
    WHEREOF, the undersigned has executed this Power of Attorney this 2nd day
  of April 2003.
/s/FELIX J. BAKER
-------------------------------
Felix J. Baker
EXHIBIT 24.1
POWER OF ATTORNEY
KNOW ALL
    YE PERSONS BY THESE PRESENTS, that the undersigned does hereby make, constitute
    and appoint each of William H. Koster and Stephen R. Davis,
    his
  or her attorney-in-fact and agent with full power of substitution and
  resubstitution for and in his or her name, place and stead, in any and all
  capacities, to execute for and on his or her behalf a Registration Statement
  pursuant the Securities Act of 1933, as amended, on Form S-8 relating to (a)
  the
  sale and/or issuance of up to an additional 250,000 shares of Neurogen
  Corporation Stock in respect of the Neurogen Corporation 401 (k) Retirement
  Plan
  (the "Plan"), and (b) an indeterminate number of interests in the
  Plan, to be so
  registered and any and all amendments to the foregoing Registration Statement
  on
  Form S-8, which amendments may make such changes in the Registration Statement
  on Form S-8 as such attorney-in-fact deems appropriate, and any other documents
  and instruments incidental thereto, and to file the same, with all exhibits
  thereto and all documents in connection therewith, with the Securities and
  Exchange Commission and the NASDAQ Stock Market, granting unto said
  attorney-in-fact and agent, full power and authority to do and perform each
  and
  every act and thing requisite and necessary to be done in and about the
  premises, as fully to all intents and purposes as the undersigned might or
  could
  do in person, hereby ratifying and confirming all that said attorney-in-fact
  and
  agent, or his substitute or substitutes, may lawfully do or cause to be done
  by
  virtue hereof.
IN WITNESS
    WHEREOF, the undersigned has executed this Power of Attorney this 2nd day
  of April 2003.
/s/JULIAN C. BAKER
-------------------------------
Julian C. Baker
EXHIBIT 24.1
POWER OF ATTORNEY
KNOW ALL
    YE PERSONS BY THESE PRESENTS, that the undersigned does hereby make, constitute
    and appoint each of William H. Koster and Stephen R. Davis,
    his
  or her attorney-in-fact and agent with full power of substitution and
  resubstitution for and in his or her name, place and stead, in any and all
  capacities, to execute for and on his or her behalf a Registration Statement
  pursuant the Securities Act of 1933, as amended, on Form S-8 relating to (a)
  the
  sale and/or issuance of up to an additional 250,000 shares of Neurogen
  Corporation Stock in respect of the Neurogen Corporation 401 (k) Retirement
  Plan
  (the "Plan"), and (b) an indeterminate number of interests in the
  Plan, to be so
  registered and any and all amendments to the foregoing Registration Statement
  on
  Form S-8, which amendments may make such changes in the Registration Statement
  on Form S-8 as such attorney-in-fact deems appropriate, and any other documents
  and instruments incidental thereto, and to file the same, with all exhibits
  thereto and all documents in connection therewith, with the Securities and
  Exchange Commission and the NASDAQ Stock Market, granting unto said
  attorney-in-fact and agent, full power and authority to do and perform each
  and
  every act and thing requisite and necessary to be done in and about the
  premises, as fully to all intents and purposes as the undersigned might or
  could
  do in person, hereby ratifying and confirming all that said attorney-in-fact
  and
  agent, or his substitute or substitutes, may lawfully do or cause to be done
  by
  virtue hereof.
IN WITNESS
    WHEREOF, the undersigned has executed this Power of Attorney this 2nd day
  of April 2003.
/s/BARRY M. BLOOM
-------------------------------
Barry M. Bloom
EXHIBIT 24.1
POWER OF ATTORNEY
KNOW ALL
    YE PERSONS BY THESE PRESENTS, that the undersigned does hereby make, constitute
    and appoint each of William H. Koster and Stephen R. Davis,
    his
  or her attorney-in-fact and agent with full power of substitution and
  resubstitution for and in his or her name, place and stead, in any and all
  capacities, to execute for and on his or her behalf a Registration Statement
  pursuant the Securities Act of 1933, as amended, on Form S-8 relating to (a)
  the
  sale and/or issuance of up to an additional 250,000 shares of Neurogen
  Corporation Stock in respect of the Neurogen Corporation 401 (k) Retirement
  Plan
  (the "Plan"), and (b) an indeterminate number of interests in the
  Plan, to be so
  registered and any and all amendments to the foregoing Registration Statement
  on
  Form S-8, which amendments may make such changes in the Registration Statement
  on Form S-8 as such attorney-in-fact deems appropriate, and any other documents
  and instruments incidental thereto, and to file the same, with all exhibits
  thereto and all documents in connection therewith, with the Securities and
  Exchange Commission and the NASDAQ Stock Market, granting unto said
  attorney-in-fact and agent, full power and authority to do and perform each
  and
  every act and thing requisite and necessary to be done in and about the
  premises, as fully to all intents and purposes as the undersigned might or
  could
  do in person, hereby ratifying and confirming all that said attorney-in-fact
  and
  agent, or his substitute or substitutes, may lawfully do or cause to be done
  by
  virtue hereof.
IN WITNESS
    WHEREOF, the undersigned has executed this Power of Attorney this 2nd day
  of April 2003.
/s/ROBERT N. BUTLER
-------------------------------
Robert N. Butler
EXHIBIT 24.1
POWER OF ATTORNEY
KNOW ALL
    YE PERSONS BY THESE PRESENTS, that the undersigned does hereby make, constitute
    and appoint each of William H. Koster and Stephen R. Davis,
    his
  or her attorney-in-fact and agent with full power of substitution and
  resubstitution for and in his or her name, place and stead, in any and all
  capacities, to execute for and on his or her behalf a Registration Statement
  pursuant the Securities Act of 1933, as amended, on Form S-8 relating to (a)
  the
  sale and/or issuance of up to an additional 250,000 shares of Neurogen
  Corporation Stock in respect of the Neurogen Corporation 401 (k) Retirement
  Plan
  (the "Plan"), and (b) an indeterminate number of interests in the
  Plan, to be so
  registered and any and all amendments to the foregoing Registration Statement
  on
  Form S-8, which amendments may make such changes in the Registration Statement
  on Form S-8 as such attorney-in-fact deems appropriate, and any other documents
  and instruments incidental thereto, and to file the same, with all exhibits
  thereto and all documents in connection therewith, with the Securities and
  Exchange Commission and the NASDAQ Stock Market, granting unto said
  attorney-in-fact and agent, full power and authority to do and perform each
  and
  every act and thing requisite and necessary to be done in and about the
  premises, as fully to all intents and purposes as the undersigned might or
  could
  do in person, hereby ratifying and confirming all that said attorney-in-fact
  and
  agent, or his substitute or substitutes, may lawfully do or cause to be done
  by
  virtue hereof.
IN WITNESS
    WHEREOF, the undersigned has executed this Power of Attorney this 2nd day
  of April 2003.
/s/FRANK C. CARLUCCI
-------------------------------
Frank C. Carlucci
EXHIBIT 24.1
POWER OF ATTORNEY
KNOW ALL
    YE PERSONS BY THESE PRESENTS, that the undersigned does hereby make, constitute
    and appoint each of William H. Koster and Stephen R. Davis,
    his
  or her attorney-in-fact and agent with full power of substitution and
  resubstitution for and in his or her name, place and stead, in any and all
  capacities, to execute for and on his or her behalf a Registration Statement
  pursuant the Securities Act of 1933, as amended, on Form S-8 relating to (a)
  the
  sale and/or issuance of up to an additional 250,000 shares of Neurogen
  Corporation Stock in respect of the Neurogen Corporation 401 (k) Retirement
  Plan
  (the "Plan"), and (b) an indeterminate number of interests in the
  Plan, to be so
  registered and any and all amendments to the foregoing Registration Statement
  on
  Form S-8, which amendments may make such changes in the Registration Statement
  on Form S-8 as such attorney-in-fact deems appropriate, and any other documents
  and instruments incidental thereto, and to file the same, with all exhibits
  thereto and all documents in connection therewith, with the Securities and
  Exchange Commission and the NASDAQ Stock Market, granting unto said
  attorney-in-fact and agent, full power and authority to do and perform each
  and
  every act and thing requisite and necessary to be done in and about the
  premises, as fully to all intents and purposes as the undersigned might or
  could
  do in person, hereby ratifying and confirming all that said attorney-in-fact
  and
  agent, or his substitute or substitutes, may lawfully do or cause to be done
  by
  virtue hereof.
IN WITNESS
    WHEREOF, the undersigned has executed this Power of Attorney this 2nd day
  of April 2003.
/s/STEPHEN R. DAVIS
-------------------------------
Stephen R. Davis
EXHIBIT 24.1
POWER OF ATTORNEY
KNOW ALL
    YE PERSONS BY THESE PRESENTS, that the undersigned does hereby make, constitute
    and appoint each of William H. Koster and Stephen R. Davis,
    his
  or her attorney-in-fact and agent with full power of substitution and
  resubstitution for and in his or her name, place and stead, in any and all
  capacities, to execute for and on his or her behalf a Registration Statement
  pursuant the Securities Act of 1933, as amended, on Form S-8 relating to (a)
  the
  sale and/or issuance of up to an additional 250,000 shares of Neurogen
  Corporation Stock in respect of the Neurogen Corporation 401 (k) Retirement
  Plan
  (the "Plan"), and (b) an indeterminate number of interests in the
  Plan, to be so
  registered and any and all amendments to the foregoing Registration Statement
  on
  Form S-8, which amendments may make such changes in the Registration Statement
  on Form S-8 as such attorney-in-fact deems appropriate, and any other documents
  and instruments incidental thereto, and to file the same, with all exhibits
  thereto and all documents in connection therewith, with the Securities and
  Exchange Commission and the NASDAQ Stock Market, granting unto said
  attorney-in-fact and agent, full power and authority to do and perform each
  and
  every act and thing requisite and necessary to be done in and about the
  premises, as fully to all intents and purposes as the undersigned might or
  could
  do in person, hereby ratifying and confirming all that said attorney-in-fact
  and
  agent, or his substitute or substitutes, may lawfully do or cause to be done
  by
  virtue hereof.
IN WITNESS
    WHEREOF, the undersigned has executed this Power of Attorney this 2nd day
  of April 2003.
/s/WILLIAM H. KOSTER
-------------------------------
William H. Koster
EXHIBIT 24.1
POWER OF ATTORNEY
KNOW ALL
    YE PERSONS BY THESE PRESENTS, that the undersigned does hereby make, constitute
    and appoint each of William H. Koster and Stephen R. Davis,
    his
  or her attorney-in-fact and agent with full power of substitution and
  resubstitution for and in his or her name, place and stead, in any and all
  capacities, to execute for and on his or her behalf a Registration Statement
  pursuant the Securities Act of 1933, as amended, on Form S-8 relating to (a)
  the
  sale and/or issuance of up to an additional 250,000 shares of Neurogen
  Corporation Stock in respect of the Neurogen Corporation 401 (k) Retirement
  Plan
  (the "Plan"), and (b) an indeterminate number of interests in the
  Plan, to be so
  registered and any and all amendments to the foregoing Registration Statement
  on
  Form S-8, which amendments may make such changes in the Registration Statement
  on Form S-8 as such attorney-in-fact deems appropriate, and any other documents
  and instruments incidental thereto, and to file the same, with all exhibits
  thereto and all documents in connection therewith, with the Securities and
  Exchange Commission and the NASDAQ Stock Market, granting unto said
  attorney-in-fact and agent, full power and authority to do and perform each
  and
  every act and thing requisite and necessary to be done in and about the
  premises, as fully to all intents and purposes as the undersigned might or
  could
  do in person, hereby ratifying and confirming all that said attorney-in-fact
  and
  agent, or his substitute or substitutes, may lawfully do or cause to be done
  by
  virtue hereof.
IN WITNESS
    WHEREOF, the undersigned has executed this Power of Attorney this 2nd day
  of April 2003.
/S/ MARK NOVITCH
-------------------------------
Mark Novitch
EXHIBIT 24.1
POWER OF ATTORNEY
KNOW ALL
    YE PERSONS BY THESE PRESENTS, that the undersigned does hereby make, constitute
    and appoint each of William H. Koster and Stephen R. Davis,
    his
  or her attorney-in-fact and agent with full power of substitution and
  resubstitution for and in his or her name, place and stead, in any and all
  capacities, to execute for and on his or her behalf a Registration Statement
  pursuant the Securities Act of 1933, as amended, on Form S-8 relating to (a)
  the
  sale and/or issuance of up to an additional 250,000 shares of Neurogen
  Corporation Stock in respect of the Neurogen Corporation 401 (k) Retirement
  Plan
  (the "Plan"), and (b) an indeterminate number of interests in the
  Plan, to be so
  registered and any and all amendments to the foregoing Registration Statement
  on
  Form S-8, which amendments may make such changes in the Registration Statement
  on Form S-8 as such attorney-in-fact deems appropriate, and any other documents
  and instruments incidental thereto, and to file the same, with all exhibits
  thereto and all documents in connection therewith, with the Securities and
  Exchange Commission and the NASDAQ Stock Market, granting unto said
  attorney-in-fact and agent, full power and authority to do and perform each
  and
  every act and thing requisite and necessary to be done in and about the
  premises, as fully to all intents and purposes as the undersigned might or
  could
  do in person, hereby ratifying and confirming all that said attorney-in-fact
  and
  agent, or his substitute or substitutes, may lawfully do or cause to be done
  by
  virtue hereof.
IN WITNESS
    WHEREOF, the undersigned has executed this Power of Attorney this 2nd day
  of April 2003.
/s/CRAIG SAXTON
-------------------------------
Craig Saxton
EXHIBIT 24.1
POWER OF ATTORNEY
KNOW ALL
    YE PERSONS BY THESE PRESENTS, that the undersigned does hereby make, constitute
    and appoint each of William H. Koster and Stephen R. Davis,
    his
  or her attorney-in-fact and agent with full power of substitution and
  resubstitution for and in his or her name, place and stead, in any and all
  capacities, to execute for and on his or her behalf a Registration Statement
  pursuant the Securities Act of 1933, as amended, on Form S-8 relating to (a)
  the
  sale and/or issuance of up to an additional 250,000 shares of Neurogen
  Corporation Stock in respect of the Neurogen Corporation 401 (k) Retirement
  Plan
  (the "Plan"), and (b) an indeterminate number of interests in the
  Plan, to be so
  registered and any and all amendments to the foregoing Registration Statement
  on
  Form S-8, which amendments may make such changes in the Registration Statement
  on Form S-8 as such attorney-in-fact deems appropriate, and any other documents
  and instruments incidental thereto, and to file the same, with all exhibits
  thereto and all documents in connection therewith, with the Securities and
  Exchange Commission and the NASDAQ Stock Market, granting unto said
  attorney-in-fact and agent, full power and authority to do and perform each
  and
  every act and thing requisite and necessary to be done in and about the
  premises, as fully to all intents and purposes as the undersigned might or
  could
  do in person, hereby ratifying and confirming all that said attorney-in-fact
  and
  agent, or his substitute or substitutes, may lawfully do or cause to be done
  by
virtue hereof.
IN WITNESS
    WHEREOF, the undersigned has executed this Power of Attorney this 2nd day
  of April 2003.
/s/JOHN SIMON
-------------------------------
John Simon
EXHIBIT 24.1
POWER OF ATTORNEY
KNOW ALL
    YE PERSONS BY THESE PRESENTS, that the undersigned does hereby make, constitute
    and appoint each of William H. Koster and Stephen R. Davis,
    his
  or her attorney-in-fact and agent with full power of substitution and
  resubstitution for and in his or her name, place and stead, in any and all
  capacities, to execute for and on his or her behalf a Registration Statement
  pursuant the Securities Act of 1933, as amended, on Form S-8 relating to (a)
  the
  sale and/or issuance of up to an additional 250,000 shares of Neurogen
  Corporation Stock in respect of the Neurogen Corporation 401 (k) Retirement
  Plan
  (the "Plan"), and (b) an indeterminate number of interests in the
  Plan, to be so
  registered and any and all amendments to the foregoing Registration Statement
  on
  Form S-8, which amendments may make such changes in the Registration Statement
  on Form S-8 as such attorney-in-fact deems appropriate, and any other documents
  and instruments incidental thereto, and to file the same, with all exhibits
  thereto and all documents in connection therewith, with the Securities and
  Exchange Commission and the NASDAQ Stock Market, granting unto said
  attorney-in-fact and agent, full power and authority to do and perform each
  and
  every act and thing requisite and necessary to be done in and about the
  premises, as fully to all intents and purposes as the undersigned might or
  could
  do in person, hereby ratifying and confirming all that said attorney-in-fact
  and
  agent, or his substitute or substitutes, may lawfully do or cause to be done
  by
  virtue hereof.
IN WITNESS
    WHEREOF, the undersigned has executed this Power of Attorney this 2nd day
  of April 2003.
/s/SUZANNE WOOLSEY
-------------------------------
Suzanne Woolsey