Navigation Links
Biotechnology Value Fund, L.P. To Make Tender Offer For Any And All Outstanding Shares Of Avigen At $1.00 Per Share
Date:1/15/2009

Tender Offer provides stockholders with a near-term cash alternative if BVF nominees are elected

BVF reaffirms support for downside-protected merger with MediciNova

NEW YORK, Jan. 15 /PRNewswire/ -- Biotechnology Value Fund, L.P. ("BVF") announced today that it intends to make a cash tender offer to purchase any and all of the outstanding common stock of Avigen, Inc. (Nasdaq: AVGN) ("Avigen") that BVF does not own at a price of $1.00 per share under the conditions described below. The offer price represents a 35% premium over Avigen's closing stock price of $0.74 on January 8, 2009, the day prior to BVF's announcement that it was seeking to remove all incumbent Avigen directors and to elect its own slate of stockholder focused nominees. BVF Partners L.P., the general partner of BVF, beneficially owns an aggregate of 8,819,600 shares of Avigen, or approximately 29.63% of the outstanding shares.

On January 9, 2009, BVF announced that it had delivered a notice to Avigen to call a special meeting of stockholders (the "Special Meeting") to remove all incumbent directors and elect its own slate of stockholder-focused nominees

The tender offer will be conditioned on the following: (i) BVF's nominees being elected to the board of directors of Avigen (the "Board") at the Special Meeting (or otherwise appointed) and constituting a majority of directors on the Board, (ii) the Board redeeming rights issued under Avigen's poison pill, (iii) Avigen not committing to any strategic transactions or capital-depleting actions, pursuant to the process described by Avigen on January 14, 2009 (or otherwise), and (iv) other customary conditions such as the absence of a suspension in trading or any material adverse change at Avigen. BVF may increase the tender price if Avigen's unrestricted cash balance increases (for e
'/>"/>

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

Page: 1 2 3 4

Related biology technology :

1. BioSpace and the Massachusetts Biotechnology Council Inc. Launch 2009 Genetown™ Hotbed Campaign
2. Biotechnology Veteran Michael Webb Joins Boston-based Investment Bank as Senior Advisor
3. Biotechnology Value Fund, L.P. Calls Special Meeting of Avigen Stockholders To Remove Incumbent Directors and Elect Slate of Stockholder-Focused Nominees
4. Bolder BioTechnology Receives $1.9 Million NIH Grant to Continue Development of Long-Acting Growth Hormone Product
5. Biotechnology Value Fund Delivers Letter to Board of Directors of Avigen, Inc.
6. Micromet Added to NASDAQ Biotechnology Index
7. Far From Beyond: A Glimpse into the World of Biotechnology and the Future of the Free World
8. North Carolinas Biotechnology Investment Tops Billion-Dollar Mark; Battelle Study Quantifies Economic Dividends and Jobs
9. Yongye Biotechnology Announces Record Third Quarter Results
10. World Market for Biotechnology Reagents to Reach $32.5 Billion by 2012, According to New Report by Global Industry Analysts, Inc.
11. Yongye Biotechnology to Present at Roth Capital China Comes to Vegas Conference
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/25/2014)... Israel , July 25, 2014  Galmed Pharmaceuticals ... biopharmaceutical company focused on the development and commercialization of ... diseases and cholesterol gallstones, today announced financial results for ... Half 2014 Financial Summary: , Reported cash and ... compared with $137,000 at December 31, 2013.  , ...
(Date:7/25/2014)... 2014 At the request of the ... 60-day extension for the public comment period (Docket No. ... Model Aircraft established by Congress as part of the ... extension establishes the new deadline for comments as September ... Transportation/FAA notice published in the Federal Register on July ...
(Date:7/24/2014)... New York, NY - July 24, 2014 -- Keryx ... results from the long-term, randomized, active control Phase 3 ... ferric iron-based phosphate binder, for the treatment of hyperphosphatemia ... The PERFECTED study (PhosphatE binding and iRon delivery with ... the Journal of the American Society of Nephrology ...
(Date:7/24/2014)... Calabasas, CA (PRWEB) July 24, 2014 ... advancing the Global Supply Chain of the biotech ... annual SCM Innovation Awards, brought to you by ... premiere global organization of supply chain management professionals ... be given to stakeholders of the Biotech industry ...
Breaking Biology Technology:Galmed Pharmaceuticals Reports First Half 2014 Financial Results 2Galmed Pharmaceuticals Reports First Half 2014 Financial Results 3Galmed Pharmaceuticals Reports First Half 2014 Financial Results 4Galmed Pharmaceuticals Reports First Half 2014 Financial Results 5Galmed Pharmaceuticals Reports First Half 2014 Financial Results 6FAA Grants Comment Extension at the Request of AMA 2Zerenex (ferric citrate) long-term Phase 3 study results published in JASN 2Zerenex (ferric citrate) long-term Phase 3 study results published in JASN 3Zerenex (ferric citrate) long-term Phase 3 study results published in JASN 4Call for Submission: BSMA’s Supply Chain Management Innovation Awards 2Call for Submission: BSMA’s Supply Chain Management Innovation Awards 3
... American Stock Exchange(R),(Amex(R)) today listed the common ... symbol RNN., Rexahn Pharmaceuticals is a ... discover, develop and commercialize,innovative treatments for cancer, ... unmet medical needs. Rexahn,s compounds are designed,to ...
... Judges for Nikon Small World, MELVILLE, N.Y., ... received a record number of entries for the ... by over 300,images. The oldest and most respected ... world,s best photomicrographers who create beautiful,imagery while showing ...
... Informed Medical Communications,(IMC), a leading provider of peer-to-peer ... appointment of Bert,Marchio to the position of Executive ... ), Marchio brings to IMC over 20 ... both the public and private sectors, with the ...
Cached Biology Technology:American Stock Exchange Lists the Common Stock of Rexahn Pharmaceuticals, Inc. 2Nikon Instruments Receives Record Number of Entries for Nikon Small World 2Informed Medical Communications Appoints New Chief Financial Officer 2
(Date:7/24/2014)... Keryx Biopharmaceuticals, Inc. (Nasdaq:KERX) (the "Company") announced the publication ... 3 study of Zerenex (ferric citrate), the Company,s investigational ... hyperphosphatemia in patients with end-stage renal disease (ESRD) on ... with FErric CiTrate in EsrD) was published online today ... Nephrology ( JASN ). , This ...
(Date:7/24/2014)... species of fish, according to a new study ... tested fish anti-predator behaviour. , Three-spined sticklebacks ... when exposed to additional noise, whereas no effects ... author Dr Irene Voellmy of Bristol,s School of ... environments have increased substantially during the last few ...
(Date:7/24/2014)... A sake brewery has its own microbial terroir, meaning ... resemble those found in the product, creating the final ... the journal Applied and Environmental Microbiology . This ... census of a sake brewery. , Many sake ... author David A. Mills of the University of California, ...
Breaking Biology News(10 mins):Zerenex™ (ferric citrate) long-term Phase 3 study results published in JASN 2Zerenex™ (ferric citrate) long-term Phase 3 study results published in JASN 3Zerenex™ (ferric citrate) long-term Phase 3 study results published in JASN 4The microbes make the sake brewery 2
... Baylor College of Medicine (BCM) and the Puget Sound Blood ... small blood vessels of the heart and brain could cause ... clots. The scientists were surprised to find that the proteins ... five hours before returning to their normal, healthy shape. ...
... are the origins of life on Earth? A new ... building blocks of life could have been created on icy ... Chemists from the University of California, Berkeley, and the University ... of creating complex dipeptides linked pairs of amino acids ...
... discovered that deleting a specific gene in mice prevents them ... finding they believe may be replicated in humans. "When ... fat," said Prof. James McManaman, Ph.D., lead author of the ... the University of Colorado School of Medicine. "It may be ...
Cached Biology News:Stressed proteins can cause blood clots for hours 2Stressed proteins can cause blood clots for hours 3New evidence that comets could have seeded life on Earth 2Researchers discover gene that causes obesity in mice 2
Mouse monoclonal [M7-PB-E9] to pan alpha Sodium Potassium ATPase ( Abpromise for all tested applications)....
Anti-Cohesin (Scc1/Rad21) Monoclonal Antibody Research Focus: signal transduction Storage: -20C Shipping Temperature: +4C...
Rabbit Anti-melatonin (different linkage) Polyclonal Antibody...
E2F2 protein...
Biology Products: