Navigation Links
BVF Acquisition LLC Extends Avigen Tender Offer to April 3, 2009
Date:3/6/2009

NEW YORK, March 6 /PRNewswire/ -- BVF Acquisition LLC (the "Purchaser"), an affiliate of Biotechnology Value Fund L.P. ("BVF"), which has commenced a cash tender offer to purchase all of the outstanding shares of Avigen, Inc. (Nasdaq: AVGN) ("Avigen") for $1.00 per share, announced today that it has extended the expiration date for the tender offer to 6:00 p.m., New York City time, on Friday, April 3, 2009. The tender offer was previously set to expire at 6:00 p.m., New York City time, on Friday, March 6, 2009. As of the close of business on March 6, 2009, a total of 2,854,626 shares, including shares tendered by guaranteed delivery, had been tendered in and not withdrawn from the offer, which together with the shares owned by BVF and affiliates, represents approximately 39.2% of the total shares outstanding of Avigen.

MacKenzie Partners, Inc. is the Information Agent for the tender offer and any questions or requests for the Offer to Purchase and related materials with respect to the tender offer or the special meeting may be directed to MacKenzie Partners, Inc.

THIS PRESS RELEASE IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT AN OFFER TO BUY OR THE SOLICITATION OF AN OFFER TO SELL ANY SHARES. THE SOLICITATION AND THE OFFER TO BUY AVIGEN COMMON STOCK IS ONLY BEING MADE PURSUANT TO AN OFFER TO PURCHASE AND RELATED MATERIALS THAT THE PURCHASER HAS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION. STOCKHOLDERS SHOULD READ THESE MATERIALS CAREFULLY BECAUSE THEY CONTAIN IMPORTANT INFORMATION, INCLUDING THE TERMS AND CONDITIONS OF THE OFFER. STOCKHOLDERS ARE ABLE TO OBTAIN THE OFFER TO PURCHASE AND RELATED MATERIALS WITH RESPECT TO THE TENDER OFFER FREE AT THE SEC'S WEBSITE AT WWW.SEC.GOV OR FROM THE PURCHASER BY CONTACTING MACKENZIE PARTNERS, INC. TOLL-FREE AT (800) 322-2885 OR COLLECT AT (212) 929-5500 OR VIA EMAIL AT TENDEROFFER@MACKENZIEPARTNERS.COM.

CERTAIN INFORMATION CONCERNING PARTICIPANTS

Biotechnology Value Fund, L.P. ("BVF"), together with the other participants named herein, has made a preliminary filing with the Securities and Exchange Commission ("SEC") of a proxy statement and accompanying GOLD proxy card to be used to solicit proxies for the removal of the members of the Board of Directors of Avigen, Inc. ("Avigen"), without cause, and for the election of BVF's slate of director nominees to replace the removed directors at a special meeting of stockholders, to be called by Avigen at the request of BVF and Biotechnology Value Fund II, L.P. ("BVF2").

BVF STRONGLY ADVISES ALL STOCKHOLDERS OF AVIGEN TO READ THE PROXY STATEMENT AND OTHER PROXY MATERIALS AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. SUCH PROXY MATERIALS WILL BE AVAILABLE AT NO CHARGE ON THE SEC'S WEB SITE AT HTTP://WWW.SEC.GOV. IN ADDITION, THE PARTICIPANTS IN THE SOLICITATION WILL PROVIDE COPIES OF THE PROXY STATEMENT WITHOUT CHARGE UPON REQUEST. REQUESTS FOR COPIES SHOULD BE DIRECTED TO THE PARTICIPANTS' PROXY SOLICITOR.

                The participants in the proxy solicitation are BVF, BVF2, BVF
                Investments, L.L.C. ("BVLLC"), BVF Acquisition LLC ("BVF
                Acq"), Investment 10, L.L.C. ("ILL10"), BVF Partners L.P.
                ("Partners"), BVF Inc. ("BVF Inc."), Mark N. Lampert, Oleg
                Nodelman, Matthew D. Perry and Robert M. Coppedge.
            

As of the date of this filing, BVF beneficially owned 1,975,340 shares of Common Stock of Avigen, BVF2 beneficially owned 1,364,911 shares of Common Stock of Avigen, BVLLC beneficially owned 4,969,764 shares of Common Stock of Avigen and ILL10 beneficially owned 509,585 shares of Common Stock of Avigen.

BVF Acq does not directly own any shares of Common Stock. As a member of a "group" for the purposes of Rule 13d-5(b)(1) of the Securities Exchange Act of 1934, as amended, BVF Acq may be deemed to beneficially own the 8,819,600 shares of Common Stock beneficially owned in the aggregate by the other Reporting Persons. BVF Acq disclaims beneficial ownership of such Shares.

As the general partner of BVF and BVF2, the manager of BVLLC and the investment adviser of ILL10, Partners may be deemed to beneficially own the 8,819,600 shares of Common Stock of Avigen beneficially owned in the aggregate by BVF, BVF2, BVLLC and ILL10. As the investment adviser and general partner of Partners, BVF Inc. may be deemed to beneficially own the 8,819,600 shares of Common Stock of Avigen beneficially owned by Partners. Mr. Lampert, as a director and officer of BVF Inc. may be deemed to beneficially own the 8,819,600 shares of Common Stock of Avigen beneficially owned by BVF Inc.

None of Messrs. Nodelman, Perry or Coppedge directly owns any shares of Common Stock of Avigen. As a members of a "group" for the purposes of Rule 13d-5(b)(1) of the Securities Exchange Act of 1934, as amended, each of Messrs. Nodelman, Perry and Coppedge may be deemed to beneficially own the 8,819,600 shares of Common Stock of Avigen beneficially owned in the aggregate by the other participants named herein. Each of Messrs. Nodelman, Perry and Coppedge disclaims beneficial ownership of such shares of Common Stock.


'/>"/>
SOURCE BVF Acquisition LLC
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Hearing Scheduled in the Delaware Court of Chancery for August 27, 2007 to Establish the Valid Approval and Consummation of the Merger Between PharmAthene, Inc. and Healthcare Acquisition Corp.
2. Proceedings to Affirm Merger Between PharmAthene and Healthcare Acquisition Corp Initiated in Delaware Chancery Court
3. Drug Royalty Corporation (DRC) Announces Acquisition Regarding PEG-INTRON(R) From Enzon Pharmaceuticals, Inc. (ENZN)
4. NxStage Medical Provides Update on Medisystems Acquisition
5. Palatin Technologies Announces Reacquisition of Full Rights to Bremelanotide Program
6. Validus Pharmaceuticals Expands Product Portfolio with Acquisition of Bipolar Drug: Equetro(R)
7. Federal Trade Commission Clears Kyphons Acquisition of Non-Vertebroplasty Spine-Related Assets of Disc-O-Tech
8. Shanghai Century Acquisition Corporation Announces Sichuan Kelun Pharmaceutical Co Results for the Six Months Ended June 30, 2007
9. Advanced Bio-Technologies Inc Announces Acquisition by HealthEdge Investment Partners, Tampa FL
10. PAREXEL International Completes Acquisition of APEX International Clinical Research Co., Ltd.
11. PAREXEL International Updates Financial Guidance in Conjunction with the Acquisition of APEX International Clinical Research Co., Ltd. and Other Factors
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/11/2016)... Feb. 11, 2016  Neurocrine Biosciences, Inc. (NASDAQ: NBIX ) ... December 31, 2015. --> --> ... net loss of $29.3 million, or $0.34 loss per share, compared ... share for the same period in 2014. For the year ended ... million, or $1.05 loss per share, as compared to a net ...
(Date:2/11/2016)... and GERMANTOWN, Maryland , ... Frankfurt Prime Standard: QIA) today announced the introduction of ... gene expression profiling, expanding QIAGEN,s portfolio of Sample to ... researchers to select from over 20,000 human genes and ... between genes, cellular phenotypes and disease processes. --> ...
(Date:2/11/2016)... ATLANTA , Feb. 11, 2016  Spectra BioPharma ... Organization (CSO) that provides biopharma companies the experience, ... implement and deploy outsourced sales teams. Created in ... team addresses both the strategic and tactical needs ... innovative sales solutions through both personal and non-personal ...
(Date:2/11/2016)... (PRWEB) , ... February 11, ... ... business-to-business publication dedicated to delivering cutting-edge information focused on the development and ... Sciences to become a premier sponsor of the 2016 BioProcess International Awards ...
Breaking Biology Technology:
(Date:2/11/2016)... 2016  Vigilant Solutions announces today that its license plate ... by Lee,s Summit Police Department to ... arrest of a homicide suspect. Kansas City ... 65 square miles and is home to roughly 100,000 residents. ... single mobile license plate reader system and also leverages Vigilant,s ...
(Date:2/8/2016)... PRAGUE, Czech Republic , February 8, 2016 ... first EU-regulated global payment platform which presents innovation ... Voice Biometrics Authentication feature called VoiceKey. --> ... payment platform which presents innovation for clients, comfort ... feature called VoiceKey. --> Worldcore ...
(Date:2/3/2016)... , February 3, 2016 ... market research report "Automated Fingerprint Identification System Market by ... Search), Application (Banking & Finance, Government, Healthcare, and Transportation) ... MarketsandMarkets, the market is expected to be worth USD ... 21.0% between 2015 and 2020. The transformation and technology ...
Breaking Biology News(10 mins):