Navigation Links
Biotechnology Value Fund Delivers Letter to Board of Directors of Avigen, Inc.
Date:12/11/2008

Urges Board to Take Immediate Action to Protect and Maximize Shareholder Value

CHICAGO, Dec. 11 /PRNewswire/ -- Biotechnology Value Fund, L.P., the owner, together with its affiliates, of nearly 29% of the outstanding shares of common stock of Avigen, Inc. (Nasdaq: AVGN) announced today that it had delivered a letter to Avigen's Board of Directors expressing its displeasure with Avigen's recent performance and continued destruction of shareholder value.

The text of the letter from Biotechnology Value Fund to the Board of Directors of Avigen follows:

December11,2008

BoardofDirectors

Avigen,Inc.

1301HarborBayParkway

Alameda,California94502

Members of the Board:

As you know, Biotechnology Value Fund, L.P., together with its affiliates, is the largest shareholder of Avigen, Inc. ("Avigen" or the "Company"), holding an ownership stake of approximately 29% of Avigen's outstanding common stock. We first became investors in Avigen in 2004 and have provided capital directly to the Company. We are writing to express our frustration with recent developments at Avigen, particularly with what we perceive to be this Board's self-serving actions and disregard of shareholder interests.

Since January 1, 2004, Avigen's stock price has fallen more than 90% and the Company has accumulated a deficit of more than $110 million. Presently, Avigen's stock trades at less than 1/3 of its net per share cash value, indicative of the investment community's conviction that Avigen's Board will destroy its remaining value. We have repeatedly reached out to the Company and have offered to work collaboratively to maximize shareholder value. The Company r
'/>"/>

SOURCE Biotechnology Value Fund, L.P.
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2 3 4 5

Related biology technology :

1. Micromet Added to NASDAQ Biotechnology Index
2. Far From Beyond: A Glimpse into the World of Biotechnology and the Future of the Free World
3. North Carolinas Biotechnology Investment Tops Billion-Dollar Mark; Battelle Study Quantifies Economic Dividends and Jobs
4. Yongye Biotechnology Announces Record Third Quarter Results
5. World Market for Biotechnology Reagents to Reach $32.5 Billion by 2012, According to New Report by Global Industry Analysts, Inc.
6. Yongye Biotechnology to Present at Roth Capital China Comes to Vegas Conference
7. InNexus Biotechnology Announces New EGFR Antibody DXL1218 Targeting Colorectal Cancer and Announces $1.25 Million Private Placement
8. InNexus Biotechnology Receives Patent Grants in Europe
9. InNexus Biotechnology CEO to Present at the 7th Annual BIO Investor Forum
10. TechConnect World 2009 Matches Tomorrows Technology Solutions with Todays Business Needs for Clean-Technology, Biotechnology and Nanotechnology
11. Lixte Biotechnology Holdings Announces New Appointment to Board of Directors
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/26/2015)... Feb. 26, 2015 The healthcare landscape is rapidly ... Frost & Sullivan will host its 20 th ... , March 8 to 10, at the Hilton San Diego ... This event is a platform for global ... discuss industry disruptions and how to succeed in an uncertain ...
(Date:2/26/2015)... Frederick, MD (PRWEB) February 26, 2015 ... solutions provider, released FreezerPro® version 6.2 – the latest ... The FreezerPro® reputation is that of a quick and ... related work. With the latest version, RURO engineering has ... on import to move large amounts of sample records. ...
(Date:2/26/2015)... ANGELES , Feb. 26, 2015 Tauriga ... life sciences company with interests in the natural wellness ... technology, announced today that its products will be featured ... Roth Capital Partners, 27 th Annual Growth Stock ... Carlton, located at 1 Ritz Carlton Drive, ...
(Date:2/26/2015)... On Wednesday, February 25, Peggy Lillis Foundation, ... difficile (C. diff) awareness movement, lauded the release ... Centers for Disease Control & Prevention . The study ... infections among Americans in a single year, including more ... study also estimates that 29,000 patients died within 30 ...
Breaking Biology Technology:Embrace the Future of Medical Technologies with Frost & Sullivan 2Embrace the Future of Medical Technologies with Frost & Sullivan 3RURO Releases FreezerPro® version 6.2 2SEC Compliance Featuring Products From Tauriga Sciences, Inc. at ROTH Capital Conference 2SEC Compliance Featuring Products From Tauriga Sciences, Inc. at ROTH Capital Conference 3SEC Compliance Featuring Products From Tauriga Sciences, Inc. at ROTH Capital Conference 4Peggy Lillis Foundation Lauds CDC's New, More Comprehensive Study on the Burden of C. difficile Infections in the United States 2Peggy Lillis Foundation Lauds CDC's New, More Comprehensive Study on the Burden of C. difficile Infections in the United States 3Peggy Lillis Foundation Lauds CDC's New, More Comprehensive Study on the Burden of C. difficile Infections in the United States 4
... AutoImmune Inc. (OTC Bulletin Board: AIMM) today reported a net loss ... three months ended June 30, 2009, compared with a net loss ... three months ended June 30, 2008. For the six months ended ... share basic and diluted, compared with net loss of $193,000, or ...
... and Semen Sexing Technology achieves, milestone, , ... ended June 30, 2009, Microbix Biosystems Inc. (TSX:MBX) announced strong ... had a small sales retraction that was related to timing ... continued growth in sales. , "The 22% sales growth achieved ...
... , ROCKVILLE, Md., Aug. 6 Novavax, ... of Frederick W. Driscoll as Vice President, Chief Financial Officer ... Singhvi, Novavax,s President and Chief Executive Officer. , , ... and President and Chief Executive Officer of Genelabs Technologies, Inc. ...
Cached Biology Technology:AutoImmune Inc. Reports 2009 Second Quarter Financial Results 2AutoImmune Inc. Reports 2009 Second Quarter Financial Results 3AutoImmune Inc. Reports 2009 Second Quarter Financial Results 4AutoImmune Inc. Reports 2009 Second Quarter Financial Results 5Microbix Sales Grow 22% For Nine Months 2Microbix Sales Grow 22% For Nine Months 3Microbix Sales Grow 22% For Nine Months 4Microbix Sales Grow 22% For Nine Months 5Novavax Announces Appointment of Frederick W. Driscoll as Vice President, Chief Financial Officer and Treasurer 2
(Date:2/24/2015)... , Feb. 24, 2015 This report analyzes the ... the following Segments: Face Biometrics, and Voice Biometrics. The report provides ... Japan , Europe , ... Africa , and Latin America ... through 2020. Also, a seven-year historic analysis is provided for these ...
(Date:2/19/2015)... --Research and Markets ( http://www.researchandmarkets.com/research/kx9zp8/military ) ... Electro-Optical / Infrared Systems Market by Type, by ... to 2020" report to their offering. ... expected to reach $16.35 billion by 2020, to ... report segments the military electro-optical/infrared systems market on ...
(Date:2/12/2015)... 2015   MedNet Solutions , a global ... management systems, has recently bolstered its ... iMedNet as the eClinical solution ... healthcare consultants.  Building on the Program,s existing benefits ... numerous co-marketing opportunities), MedNet,s new and improved program ...
Breaking Biology News(10 mins):World Face and Voice Biometrics Industry 2World Face and Voice Biometrics Industry 3World Face and Voice Biometrics Industry 4World Face and Voice Biometrics Industry 5World Face and Voice Biometrics Industry 6World Face and Voice Biometrics Industry 7World Face and Voice Biometrics Industry 8World Face and Voice Biometrics Industry 9World Face and Voice Biometrics Industry 10World Face and Voice Biometrics Industry 11World Face and Voice Biometrics Industry 12World Face and Voice Biometrics Industry 13World Face and Voice Biometrics Industry 14World Face and Voice Biometrics Industry 15World Face and Voice Biometrics Industry 16Military Electro-Optical / Infrared Systems (Image Intensification, Laser, Infrared) Market - Forecast to 2020: Featuring Profiles of the Market Leaders on this $16 Billion market 2Military Electro-Optical / Infrared Systems (Image Intensification, Laser, Infrared) Market - Forecast to 2020: Featuring Profiles of the Market Leaders on this $16 Billion market 3MedNet Solutions Announces Key Enhancements To Its iMedNet Partner Program 2
... Neurotechnology , a provider of high-precision biometric ... MegaMatcher 4.0 , a multi-biometric software development kit ... biometrics in a single, high-performance SDK that requires ... palmprint technology along with the latest versions of ...
... for making one species into two requires time and ... or something else that discourages gene flow between the ... Texas wildflowers that share meadows and roadside ditches, color-coding ... Robin Hopkins has found the first evidence of a ...
... The first commercial crop of a new mandarin variety ... will be harvested beginning later this month. The ... mutation of W. Murcott mandarin. Originally from Morocco, W. ... and tangy-sweet flavor traits shared by the Tango. ...
Cached Biology News:New MegaMatcher 4.0 from Neurotechnology Integrates Fingerprint, Iris, Facial and Palmprint Biometrics In One High-Performance SDK 2New MegaMatcher 4.0 from Neurotechnology Integrates Fingerprint, Iris, Facial and Palmprint Biometrics In One High-Performance SDK 3Wildflower colors tell butterflies how to do their jobs 2Tango mandarins to appear this month in produce aisles 2Tango mandarins to appear this month in produce aisles 3
... is an enhanced form of Tobacco Etch ... highly active, and significantly more stable than ... AcTEV Protease specifically recognizes a seven amino ... making it useful for removing affinity tags ...
... a fully flexible quadrupole MS detector optimized ... HPLC, 1-D and 2-D LC, as well ... incorporates a drying gas system to create ... especially for low-to-medium polarity compounds, while providing ...
S-100A10 (H-80)...
Vapor phase risers are available in various heights to accomodate a variety of inventory solutions. Risers are used to creat a false bottom in which the tanks platform rests and Liquid nitrogen is s...
Biology Products: