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:8/20/2014)... American Indians largely were wiped out by diseases such ... to the New World by European explorers., One report ... in the Americas shortly before Europeans arrived, and roughly ... But new research led by anthropological geneticists Anne Stone ... University of Tubingen in Germany indicates the diagnosis of ...
(Date:8/20/2014)... , Aug. 20, 2014 Neurotrope, Inc. ... a conference call to provide an update on ... Eastern daylight timeDial-in numbers:(888) 505-4369 (U.S. and Canada) ... web cast: www.neurotropebioscience.com , under "Investor Relations"The teleconference ... completion through September 2, 2014 at (888) 203-1112 ...
(Date:8/20/2014)... Mass. , Aug. 20, 2014  Decision Resources Group finds ... , Russia , India ... $1.6 billion in 2013, roughly equal to the size of ... however, the BRIC market will experience much faster growth as a ... aging population. Other key findings from Decision Resources Group,s ...
(Date:8/20/2014)... CA (PRWEB) August 20, 2014 The ... is being held on October 29-30 in San ... from industry, academic and government researchers and clinicians focused ... the space. , In the twelve years since ... hundred therapies have been introduced with pharmacogenetic information in ...
Breaking Biology Technology:Unusual discovery leads to fascinating tuberculosis theory 2Unusual discovery leads to fascinating tuberculosis theory 3Neurotrope To Host Conference Call 2BRIC Vascular Access Device Market Valued at $1.6 Billion in 2013, Similar to the U.S. Market 2BRIC Vascular Access Device Market Valued at $1.6 Billion in 2013, Similar to the U.S. Market 36th Annual Personalized and Precision Medicine Conference Bringing Together Thought Leaders to Discuss Clinical Implementation, Dx Reimbursement, Big Data, and Sequencing 2
... (OTCBB:IAGX) announced today it has appointed Bill Toomey to ... the appointment, Mr. William Spencer, Imagenetix Chief Executive Officer ... join our board and bring to us his extensive ... benefit greatly from his past experiences and high level ...
... BELL, Pa., June 30, 2011 Inovio Pharmaceuticals, Inc. ... the development of therapeutic and preventive vaccines against cancers ... compelling immune responses in a study of its multi-subtype ... proprietary vaccine delivery technology in sheep, the second large ...
... ORLEANS, June 29, 2011 Ochsner Health System has signed ... e ICU Program to enhance critical care -- a program ... of stay and save lives. As the only healthcare provider ... Ochsner will serve as a statewide resource to community and ...
Cached Biology Technology:Imagenetix, Inc. Appoints Bill Toomey to Its Board of Directors 2Inovio Pharmaceuticals' DNA Vaccine for Foot-and-Mouth Disease Generates Protective Neutralizing Antibodies in Second Large-Animal Study 2Inovio Pharmaceuticals' DNA Vaccine for Foot-and-Mouth Disease Generates Protective Neutralizing Antibodies in Second Large-Animal Study 3Inovio Pharmaceuticals' DNA Vaccine for Foot-and-Mouth Disease Generates Protective Neutralizing Antibodies in Second Large-Animal Study 4Inovio Pharmaceuticals' DNA Vaccine for Foot-and-Mouth Disease Generates Protective Neutralizing Antibodies in Second Large-Animal Study 5Inovio Pharmaceuticals' DNA Vaccine for Foot-and-Mouth Disease Generates Protective Neutralizing Antibodies in Second Large-Animal Study 6Ochsner Health System will Offer First eICU Program in Louisiana 2Ochsner Health System will Offer First eICU Program in Louisiana 3
(Date:8/20/2014)... suffered concussions ready to return to action? A new ... athletes who head back on the field with medical ... their abilities to simultaneously walk and do simple mental ... their balance and/or altered walking speed, was found in ... returned to activity in less than a month. Seven ...
(Date:8/20/2014)... few years, Virginia Tech,s Wu Feng has built upon ... the "Computing in the Cloud" program, and synergistically complemented ... award from the Air Force on "big computing" for ... the National Institutes of Health on "big data" for ... "parallel computing" aspects from each grant, he was able ...
(Date:8/20/2014)... A new gene therapy developed by researchers at ... shown to protect mice from a life-threatening heart condition ... new therapeutic avenue," said Yi Lai, Ph.D., the leading ... the MU School of Medicine,s Department of Molecular Microbiology ... we hope this could lead to a treatment for ...
Breaking Biology News(10 mins):Recovery reversal seen in Oregon study of returning concussed athletes 2Recovery reversal seen in Oregon study of returning concussed athletes 3The internet was delivered to the masses; parallel computing is not far behind 2The internet was delivered to the masses; parallel computing is not far behind 3The internet was delivered to the masses; parallel computing is not far behind 4Gene therapy protects mice from lethal heart condition, MU researchers find 2
... Ranganathan, professor of pharmacology at UT Southwestern Medical Center, was ... in research by The Academy of Medicine, Engineering and Science ... of one of three 2009 Edith and Peter O,Donnell Awards ... Ranganathan is director of the Systems Biology Division of the ...
... This release is available in German . ... only a single proton. If a neutron is added, ... deuterium in place of hydrogen atoms are chemically identical. ... water with molecules that contain deuterium in place of ...
... When extremes of drought and flood come in rapid succession, ... on the sequence of those events, according to a new ... The study, which focused on tree species common to the ... and were less likely to die when subjected to drought ...
Cached Biology News:UT Southwestern scientist honored among best in Texas research 2UT Southwestern scientist honored among best in Texas research 3Heavy pyridine crystallizes differently 2Sequence matters in droughts and floods 2