Navigation Links
Biotechnology Value Fund, L.P. Calls Special Meeting of Avigen Stockholders To Remove Incumbent Directors and Elect Slate of Stockholder-Focused Nominees
Date:1/9/2009

rrent stock price.
  • Tremendous Upside Potential: Based on our analysis, if MediciNova is successful post-transaction, Avigen stockholders could own a substantial percentage of MediciNova - approximately 45% of the combined company. Under the best-case scenario, this could lead to an extraordinary, uncapped return for Avigen stockholders.
  • Free Option: Additionally, stockholders would have at least one year following consummation of the transaction to choose whether they want the downside protection or upside potential, as described above. We believe this free option period offers stockholders tremendous upside potential with low risk.
  • New Stewardship of Avigen's Assets: If successfully completed, the transaction would also result in new stewardship of Avigen's assets, curtailing this Board's and management's stated plan of seeking ways to utilize and, we fear, waste Avigen's remaining assets. We believe stockholder focused management, with a substantial personal stake in the company, is key to protecting Avigen's assets, particularly in light of Chief Executive Officer Ken Chahine's recent statements regarding the future of Avigen, including that "it's hard to put a finger on exactly what we would do," that he "intends to build" over the next year and that he "thinks that there are opportunities outside of therapeutics."
  • Unique Synergies: We also strongly believe there are unique synergies between MediciNova and Avigen that likely would not exist with other potential acquirers of Avigen. These synergies, we believe, give rise to the compelling nature of the transaction."

    • Mr. Lampert added, "For these reasons, we believe Avigen should seriously pursue the transaction with MediciNova, a company in which we have no economic stake. We are extremely concerned that this Board and management, who collectively own less than 6% of Avigen, do
    '/>"/>

    SOURCE Biotechnology Value Fund, L.P.
    Copyright©2009 PR Newswire.
    All rights reserved

    1

    GOOD

    Page: 1 2 3 4 5

    Related biology technology :

    1. Bolder BioTechnology Receives $1.9 Million NIH Grant to Continue Development of Long-Acting Growth Hormone Product
    2. Biotechnology Value Fund Delivers Letter to Board of Directors of Avigen, Inc.
    3. Micromet Added to NASDAQ Biotechnology Index
    4. Far From Beyond: A Glimpse into the World of Biotechnology and the Future of the Free World
    5. North Carolinas Biotechnology Investment Tops Billion-Dollar Mark; Battelle Study Quantifies Economic Dividends and Jobs
    6. Yongye Biotechnology Announces Record Third Quarter Results
    7. World Market for Biotechnology Reagents to Reach $32.5 Billion by 2012, According to New Report by Global Industry Analysts, Inc.
    8. Yongye Biotechnology to Present at Roth Capital China Comes to Vegas Conference
    9. InNexus Biotechnology Announces New EGFR Antibody DXL1218 Targeting Colorectal Cancer and Announces $1.25 Million Private Placement
    10. InNexus Biotechnology Receives Patent Grants in Europe
    11. InNexus Biotechnology CEO to Present at the 7th Annual BIO Investor Forum

    Post Your Comments:
    *Name:
    *Comment:
    *Email:
    (Date:11/24/2009)...swire/--BlueMarbleEnergyCorp.announcedtodaythatthe...)wererecentlyawarded$2millionbyWashingtonState,sCo.../publicpartnershiptoconstructthestate,sfirstspecia... "Thisinvestmentwillsignificantlyspeedthedevelopme...County,"saidBlueMarbleEnergyCEOKellyOgilvie."Weare...
    (Date:11/24/2009).../PRNewswire-FirstCall/--ArenaPharmaceuticals,Inc.(...duledtopresentatthePiperJaffray21stAnnualHealthCar...8:30a.m.PacificTime)attheNewYorkPalaceHotelinNewYo...eOfficer,isscheduledtoprovideanoverviewofthecompan...ams. ,, Aliveaudiowebcastofthepresentationwillb...
    (Date:11/24/2009)...swire-FirstCall/--CellTherapeutics,Inc.(CTI)(Nasda...iperJaffrayHealthCareConference.Theconferencewillb..., CTIwillpresentonTuesday,December1at11:00a.m.Eas...,spresentationwillbeavailableat www.celltherapeuti...s. , ,PiperJaffrayHealthCareConference,NewYorkPal...
    (Date:11/23/2009)...Nov.23/PRNewswire-FirstCall/--PDLBioPharma,Inc.(PD...ishedNovember27,2009astheex-dividenddateforits$200...hesecuritizationtransactioncompletedonNovember2,20...kholdersofrecordontherecorddate,December1,2009.NAS...at$1.67pershareofcommonstockforpurposesoftheex-div...
    Breaking Biology Technology:Blue Marble Energy, OPDA Awarded $2M by WA's Community Economic Revitalization Board 2Arena Pharmaceuticals to Present at the Piper Jaffray 21st Annual Health Care Conference 2PDL BioPharma Announces Ex-Dividend Date of November 27 for Special Dividend 2
    ...hances NeoStem,s Presence in Anti-Aging Arena , ,...US: NBS), which is pioneering the pre-disease coll...stem cells for future medical need, announced toda...exclusive worldwide rights to innovative stem cell...nd body procedures and skin rejuvenation. , , The...
    ...D, Pa., Feb. 23 Endo Pharmaceuticals (Nasdaq: E... the tender offer by its wholly owned subsidiary, ...res of common stock of Indevus Pharmaceuticals, In...; Trust Company, the depositary for the tender off...rk City time, on February 20, 2009, the initial ex...
    ..., Calif., Feb. 23 CUREXO Technology Corporation, ...age-directed robotic products for orthopaedic appl...C(R) Surgical System, announced today that they wi...ion of Orthopaedic Surgeons Annual Conference at t...hrough the 27th, Booth #3456. , , For the first t...
    Other Biology Technology:NeoStem Obtains Exclusive Worldwide License to Innovative Stem Cell Technology and Applications for Anti-Aging Skin Rejuvenation Therapies 2NeoStem Obtains Exclusive Worldwide License to Innovative Stem Cell Technology and Applications for Anti-Aging Skin Rejuvenation Therapies 3Endo Pharmaceuticals Successfully Completes Tender Offer for Shares of Indevus Pharmaceuticals and Announces Subsequent Offering Period 2Endo Pharmaceuticals Successfully Completes Tender Offer for Shares of Indevus Pharmaceuticals and Announces Subsequent Offering Period 3CUREXO Technology Corporation Launches Its ROBODOC(R) Surgical System at Upcoming Orthopaedic Conference in Las Vegas 2
    (Date:11/24/2009)...able in Spanish . , The presence of increas...matory substances in the blood, hinders the loss a...rch project of the University of Navarra conducted...chool of Pharmacy. , The project, entitled "A nu...he control of body weight and inflammation," exami...
    (Date:11/23/2009)...community-associated strain of the deadly superbug...st common antibioticsposes a far greater health th...nto hospitals, according to a study in the Decembe...e new threat is easily picked up in fitness center...sed the overall burden of MRSA within hospitals, t...
    (Date:11/23/2009)..., 2009 - The time of day matters to forest trees d...uced by a research team led by Professor Malcolm C...principal for research and colleagues in the depar...e campus. , Capitalizing on their previous wor...earch team examined how poplar trees use their 45,...
    Breaking Biology News(10 mins):It can be predicted the reaction obese patients will have to a diet 2New study finds MRSA on the rise in hospital outpatients 2Time of day matters to thirsty trees, U of T researcher discovers 2Significantly Higher Percentage of Hetastarch Recipients Underwent a Surgical Procedure Than Those Receiving Albumin Plasma Protein Fraction 57488 1Significantly Higher Percentage of Hetastarch Recipients Underwent a Surgical Procedure Than Those Receiving Albumin Plasma Protein Fraction 57488 2Significantly Higher Percentage of Hetastarch Recipients Underwent a Surgical Procedure Than Those Receiving Albumin Plasma Protein Fraction 57488 3TBGH Report on Status of Diabetes in Texas Indicates Growing Severity of Problem and Higher Cost of Care Than National Average 57487 1TBGH Report on Status of Diabetes in Texas Indicates Growing Severity of Problem and Higher Cost of Care Than National Average 57487 2TBGH Report on Status of Diabetes in Texas Indicates Growing Severity of Problem and Higher Cost of Care Than National Average 57487 3TBGH Report on Status of Diabetes in Texas Indicates Growing Severity of Problem and Higher Cost of Care Than National Average 57487 4Cohen Launches Second Statewide Tour 57485 1Cohen Launches Second Statewide Tour 57485 2
    ...stralian researchers have discovered a new gene th...ate cancer, as well as diabetes. , The gene, calle...ustralian Institute for Medical Research,s (WAIMR)...Peter Leedman, in collaboration with Professor Ber... Texas. , "When we baited our hook and went fishi...
    ...the transport of proteins within cells may underli...such as Huntington,s, ALS and Kennedy disease. Und...hese diseases may offer targets for future therapy...re Neuroscience, researchers from the University o...ow a chemical pathway that is obstructed in Kenned...
    ...f UniQuest,s 2006 Trailblazer innovation competiti... for motoneuronal diseases based on modifying boto...onal diseases cause a degeneration of the nerve pa...re severe and physically debilitating disorders wh...cles. Many of the diseases are incurable. , Dr Me...
    Other Biology News:Gene discovery opens door to tackling disease 2Mechanism for neurodenegerative diseases linked to transport proteins 2
    ...orm 96 assays on one plate. The new ArraySlide 96 ...mm) individual printing surfaces for multiple simu...alysis studies. Unlike other systems, this device ... presence of contaminating adhesives. The chamber ...
    ...orm 96 assays on four slides. The new ArraySlide 2...mm x 7mm) individual printing surfaces for multipl...ing analysis studies. Unlike other systems, this d...ng the presence of contaminating adhesives. The ch...
    ...integrins in vascular proliferation, adhesion, and...rin family of cell adhesion receptors consists of ...osed of an a and b subunit that associate in a non...ersity of the integrin family are based upon the p...
    Bio-Plex Manager Version 3.0 to 4.0 Workstation Software Upgrade Kit from Bio-Rad
    Biology Products: