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:7/31/2015)... In today,s fast changing healthcare environment, ... positive health outcomes, improve profitability and enhance their ... in their communities. At ThoughtSpot 2015, Good ... announced a new set of innovative capabilities that ... help independent pharmacies endure the industry,s most pressing ...
(Date:7/31/2015)... ... July 31, 2015 , ... Global ... and premium industry insights on the global resorcinol industry. The report highlights the ... of vivid market scenarios and analysis of primary and secondary inputs from the ...
(Date:7/31/2015)... 2015 China Cord Blood Corporation (NYSE: CO) ... leading provider of cord blood collection, laboratory testing, hematopoietic ... announced that the Company has filed its Annual Report ... Commission. The filed Form 20-F includes audited financial statements ... Form 20-F can be accessed by visiting the U.S. ...
(Date:7/31/2015)... ... July 31, 2015 , ... R-Biopharm is proud ... partially hydrolyzed gluten in foods, has been accepted by AOAC International as Official ... Gluten in Fermented Cereal-Based Products by R5 Competitive ELISA,” based on a specific ...
Breaking Biology Technology:AmerisourceBergen Unveils Suite of Enhanced Capabilities for Independent Pharmacies at ThoughtSpot 2015 2AmerisourceBergen Unveils Suite of Enhanced Capabilities for Independent Pharmacies at ThoughtSpot 2015 3Resorcinol Market to Grow at 6% CAGR to 2019 Says New Research Report at ReportsnReports.com 2Resorcinol Market to Grow at 6% CAGR to 2019 Says New Research Report at ReportsnReports.com 3Resorcinol Market to Grow at 6% CAGR to 2019 Says New Research Report at ReportsnReports.com 4China Cord Blood Corporation Files Its Annual Report on Form 20-F 2RIDASCREEN® Competitve Gliadin Receives AOAC Official First Action Status 2
... Biotherapeutics (OTC Bulletin Board: NWBO ) announced today ... a presentation on "Autologous Dendritic Cells for Glioblastoma" on Saturday, ... Meeting of the American Society of Cell and Gene Therapy ... rooms 615-617 at the Washington State Convention Center. ...
... and PARSIPPANY, N.J., May 20, 2011 During a ,Day ... Science Park High School experienced what it was like to ... hosted by Students 2 Science, Inc. (S2S). The "A Day ... many integrated full-year science education programs offered by S2S that ...
... InterMune, Inc. (NASDAQ: ITMN ) will conduct ... on Thursday, May 26, 2011, from 8:30 a.m. – ... executive management team will provide an overview of the ... commercial and scientific plans.  The company also will provide ...
Cached Biology Technology:Northwest Biotherapeutics to Present at American Society of Cell and Gene Therapy 2Northwest Biotherapeutics to Present at American Society of Cell and Gene Therapy 3Local Partnership Addresses Lagging Scores and Interest in Science and Math Among Students 2Local Partnership Addresses Lagging Scores and Interest in Science and Math Among Students 3InterMune to Webcast 2011 Analyst Day Presentations 2
(Date:7/31/2015)... , Kina, 31. juli 2015 Den ... bliver afholdt af BGI fra den 22. - 25. oktober ... Konferencen fejrer sin 10-års fødselsdag i år. Siden ... mest indflydelsesrige årlige møder på ,omik,-feltet, og er en ... ICG-10 fokuserer på nylige gennembrud og ...
(Date:7/31/2015)... 31 de julio de 2015 BGI llevará a ... ) del 22 al 25 de octubre de 2015, ... La conferencia celebra su décimo aniversario este año. Desde ... una de las reuniones anuales más influyentes del mundo ... de las conferencias científicas más dinámicas, entusiastas y amenas. ...
(Date:7/31/2015)... , 31 de julho de 2015 ... www.icg-10.org ) será realizada pela BGI de 22-25 de ... . A conferência está celebrando seu 10 ... 2006, a ICG se tornou uma das reuniões mais ... dos encontros científicos mais dinâmicos, entusiastas e prazerosos. ...
Breaking Biology News(10 mins):Den 10. internationale konference om Genomics (ICG-10) åbner i oktober 2La 10ª Conferencia Internacional sobre Genómica (ICG-10) comienza en octubre 2La 10ª Conferencia Internacional sobre Genómica (ICG-10) comienza en octubre 3A 10a. Conferência Internacional sobre Genômica (ICG-10) será em outubro 2A 10a. Conferência Internacional sobre Genômica (ICG-10) será em outubro 3
... the western Antarctic Peninsula since 1850 The ... over the past 50 years (the period of observational ... on the fringes of the peninsula disintegrating. Despite this, ... of days with snowfall has increased by at least ...
... MD The Biophysical Society has announced the speakers for ... of the Biophysical Society and the International Biophysics Congress ... The new and notable symposium highlights the latest and ... and selected by the Societys program committee. The ...
... is a tiny yet insidious waterborne parasite that wreaks ... diarrhea and malnutrition in small children in developing countries, ... compromised patients in the developed world. Cryptosporidium is resistant ... the U.S., which has led to the concern that ...
Cached Biology News:AGU journal highlights -- Jan. 28, 2008 2AGU journal highlights -- Jan. 28, 2008 3AGU journal highlights -- Jan. 28, 2008 4AGU journal highlights -- Jan. 28, 2008 5AGU journal highlights -- Jan. 28, 2008 6Biophysical Society announces new and notable symposium speakers 2Breakthrough research turns the tide on water-borne pathogen 2
US Pharmacopoeia Purified-Water/Water-for-Injection Quality Water...
... Primer is designed for sequencing inserts cloned ... V2051, V2061). The primer hybridizes upstream of ... approximately 4050 base pairs upstream of the ... to determine if an insert is cloned ...
Request Info...
...
Biology Products: