Navigation Links
Biotechnology Value Fund Urges Stockholders to Remove and Replace Current Board of Avigen, Inc. in an Effort to Protect and Maximize Stockholder Value
Date:3/12/2009

current self-serving Board and electing our independent nominees who are committed to protecting value for all stockholders.

Let me state from the outset that we neither seek, nor would we accept, any consideration or benefit solely for ourselves. Avigen has falsely accused us of this numerous times, even though we have been crystal clear on this fundamental issue all along. We are waging this effort because (a) we feel a sense of responsibility to do so on behalf of all stockholders given our unique position as the largest stockholder and (b) we believe it is the right thing to do, especially in the context of the current economic environment caused, in part, by similar self-serving managements and Boards.

Throughout this process we have sought only three simple things:

  1. that Avigen stop recklessly wasting stockholder money;
  2. that stockholders be empowered to decide the fate of Avigen's remaining cash; and
  3. that stockholders be guaranteed a quantified worst-case outcome of approximately Avigen's liquidation value.

Thus far we have made progress with #1 and #2 above. Facing pressure from BVF, Avigen has abandoned, at least temporarily, its plan to spend money on its remaining products. In addition, the Company has now been forced to call a special meeting to finally permit stockholders the opportunity to weigh in. Prior to our intervention, Avigen's stock traded at a mere 33% of the cash in the bank and at a steep discount to its current price. This is a remarkable reflection on how poorly Avigen was and is viewed by the investment community. Prior to our intervention, Avigen's plan was to spend all stockholder money over two years on uncompelling products that it has subsequently conceded were not worthy of investment.

It is worth reflecting on some of Avigen's historical "accomplishments":

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

Page: 1 2 3 4 5 6 7 8 9

Related biology technology :

1. Canadian Government Announces Funding for Leading Biotechnology Firms Project
2. InNexus Biotechnology Announces New Patents Protecting Novel Cell Penetrating DXL(TM) Antibodies
3. FDA Provides A Positive Review of InNexus Biotechnology Development Plan for Lead Product
4. PDS Biotechnology Corporation Finalizes Commercial Licensing Agreement with Merck Eprova AG to Utilize Merck Eprovas Enantiomers of DOTAP Chloride in Immunotherapies
5. Yongye Biotechnology Announces Preliminary Results for Fiscal Year 2008
6. Yongye Biotechnology to Host Virtual Retail Road Show to Provide Overview of the Company in English and Mandarin
7. Yongye Biotechnology International to Expand its Network of Branded Stores
8. Biotechnology Value Fund, L.P. Requests Avigen Board to Provide Critical Information to Stockholders
9. Yongye Biotechnology to Present at Roth Conference
10. MannKind to Present at the 11th Annual Biotechnology Industry Organization BIO CEO & Investor Conference
11. Energy, Biotechnology and Agribusiness Veterans Form SG Biofuels to Develop Jatropha as Low-Cost, Sustainable Oil
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/26/2015)... N.J., March 26, 2015  Roka Bioscience, Inc. ... focused on providing advanced testing solutions for the ... results for the three months and full year ... 2014 Financial Results:Revenue for the quarter ended December ... for the fourth quarter of 2013 and $1.5 ...
(Date:3/26/2015)... CINCINNATI , March 26, 2015 ... NASDAQ: SHPG ) and Cincinnati Children,s Hospital ... collaboration for rare diseases. The goal of the collaboration ... treat rare diseases with high unmet medical need ... Children,s research expertise. As a nationally ranked hospital, ...
(Date:3/26/2015)... Ale Gicqueau, Founder and President of Clinovo, will co-present ... Technology, on “ Conducting Postmarket Registries - Rationale and ... and Exhibition on April 25th through April 28th in ... presentation, Ale Gicqueau and Victor Chen will discuss the ... requirements and resources to conduct the registry, as well ...
(Date:3/25/2015)... 25, 2015 Optimal Research, LLC has been ... (ViE) Award "Best Clinical Site or Trial Network". ... has been selected as a nominee in this ViE ... "Highly Recommended" distinction in 2014. The ViE awards were ... accomplishments, and positive contributions of companies and individuals in ...
Breaking Biology Technology:Roka Bioscience Reports Fourth Quarter and Full Year 2014 Financial Results 2Roka Bioscience Reports Fourth Quarter and Full Year 2014 Financial Results 3Roka Bioscience Reports Fourth Quarter and Full Year 2014 Financial Results 4Roka Bioscience Reports Fourth Quarter and Full Year 2014 Financial Results 5Roka Bioscience Reports Fourth Quarter and Full Year 2014 Financial Results 6Roka Bioscience Reports Fourth Quarter and Full Year 2014 Financial Results 7Shire and Cincinnati Children's Establish Rare Disease Research Collaboration 2Shire and Cincinnati Children's Establish Rare Disease Research Collaboration 3Shire and Cincinnati Children's Establish Rare Disease Research Collaboration 4Shire and Cincinnati Children's Establish Rare Disease Research Collaboration 5Clinovo Presents at ACRP 2015 in Salt Lake City, Utah on April 25th-28th 2Clinovo Presents at ACRP 2015 in Salt Lake City, Utah on April 25th-28th 3Optimal Research Nominated 2015 Vaccine Industry Excellence (ViE) Award 2
... 2 eResearchTechnology, Inc.,(eRT), (Nasdaq: ERES ... collection and interpretation services,announced today that Dr. ... Executive Officer, and Richard Baron, the Company,s ... the Deutsche Bank 33rd Annual,Healthcare Conference at ...
... ev3 Inc. (Nasdaq:,EVVV), a global endovascular device company, today ... and its revised financial,guidance for 2008., As previously ... quarter of 2008 representing a 65% increase over the ... over the fourth quarter of 2007. The,increase in net ...
... - QSV Biologics, Ltd (QSV), a North,American based ... awarded,a cGMP manufacturing contract for a recombinant protein ... manufactured at QSV,s Edmonton facility,and is intended for ... begin,immediately, and will include technology transfer, scale-up and ...
Cached Biology Technology:eResearchTechnology to Present at the Deutsche Bank 33rd Annual Healthcare Conference on May 7th 2008 2ev3 Inc. Reports 2008 First Quarter Financial Results and Revised 2008 Guidance 2ev3 Inc. Reports 2008 First Quarter Financial Results and Revised 2008 Guidance 3ev3 Inc. Reports 2008 First Quarter Financial Results and Revised 2008 Guidance 4ev3 Inc. Reports 2008 First Quarter Financial Results and Revised 2008 Guidance 5ev3 Inc. Reports 2008 First Quarter Financial Results and Revised 2008 Guidance 6ev3 Inc. Reports 2008 First Quarter Financial Results and Revised 2008 Guidance 7ev3 Inc. Reports 2008 First Quarter Financial Results and Revised 2008 Guidance 8ev3 Inc. Reports 2008 First Quarter Financial Results and Revised 2008 Guidance 9ev3 Inc. Reports 2008 First Quarter Financial Results and Revised 2008 Guidance 10ev3 Inc. Reports 2008 First Quarter Financial Results and Revised 2008 Guidance 11ev3 Inc. Reports 2008 First Quarter Financial Results and Revised 2008 Guidance 12QSV Biologics awarded cGMP manufacturing contract by Pfizer Inc. 2
(Date:3/24/2015)... --  NexID Biometrics LLC, whose spoof-mitigation technology boosts ... the beginning of shipments of version 2.0 of its ... based in Potsdam, N.Y. , is ... began here today at the Walter E. Washington Convention ... SDK boosts the accuracy rate range to 96.5 to ...
(Date:3/23/2015)... Conn. , Mar. 23, 2015 NXT-ID, Inc. (NASDAQ: ... company focused on the growing mobile commerce market, announces its ... new advertising campaign on CNBC television starting March 30 th ... will commence airing in New York ... Officer said: "We are excited about our new ad campaign ...
(Date:3/19/2015)...  NXT-ID, Inc. (NASDAQ: NXTD ) ("NXT-ID" or ... mobile commerce market, announces its biometric payment technology, the Wocket® ... this week on Washington DC,s Fox ... segment "The Next Great Thing", host Laura Evans ... and ,a really big breakthrough in mobile payment.,  ...
Breaking Biology News(10 mins):NexID Begins Shipments Of Version 2.0 Fake-Finger-Detection Solution 2NXT-ID's Wocket Smart Wallet to Launch New CNBC Regional TV Ad Campaign 2NXT-ID's Wocket Smart Wallet to Launch New CNBC Regional TV Ad Campaign 3NXT-ID's Wocket Smart Wallet Featured on Fox News Segment, "The Next Great Thing" 2NXT-ID's Wocket Smart Wallet Featured on Fox News Segment, "The Next Great Thing" 3
... 2007Professor Gilles Gauthier of Universit Lavals Centre dtudes nordiques ... up the ArticWOLVES project as part of International Polar ... the research project aims to better understand the impact ... polar ecosystems. Dating back to the 1960s, Centre ...
... 24, 2007) New research published in the October ... Surgeons suggests that pregnant women suspected of having appendicitis ... the appendix) that can result in early delivery or ... the need to require more accurate diagnosis to avoid ...
... The vast majority of patients who had ... did not need mitral valve surgery three years ... improved function of the left ventricle (commonly known ... week at the Cardiovascular Research Foundations (CRF) nineteenth ...
Cached Biology News:$2.8 million for research into the impact of climate change on tundra wildlife 2Pregnant women at risk for unnecessary operations due to misdiagnosis of appendicitis 2New data shows benefits of MitraClip for patients with mitral regurgitation 2New data shows benefits of MitraClip for patients with mitral regurgitation 3
...
... PP1, purified Formulation: 0.15M NaCl, ... 0.1mM MnCl2, 1mM MgCl2, 1mM EGTA, ... dephosphorylation of proteins Purification: DEAE chromatography, ... and gel filtration chromatography Quality Assurance: ...
... Endothelin-1 (human, porcine) Endogenous potent ... ETA receptor and modulates vascular tonus. ET-1, ... three distinct endothelin genes. ET-2 and ET-3 ... two and six amino acids, respectively. All ...
Human sVCAM-1/CD106 ELI-PAIR Kit...
Biology Products: