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:7/3/2015)... 3, 2015 Forskare ... 2015 på  http://www.openinnovationinscience.at till det återkommande ... som hålls i Wien ... med internationella forskare och vetenskapsmän som genomfördes ... två största utmaningar bristen på incitament för ...
(Date:7/2/2015)... , ... July 03, 2015 , ... Cuvettes have been used in countless labs for ... to find the cuvette they needed. As expected, this was a daunting and tiring ... wrong part because they were not able to navigate the complex catalog structure. , Now ...
(Date:7/2/2015)... ... July 02, 2015 , ... Sleepless nights will become obsolete as Luzi ... its Indiegogo campaign on June 23. Sound sleepers and the sleep deprived both will ... to use, while the integration of the Bluetooth speaker, alarm clock and ability to ...
(Date:7/1/2015)...   Decision Resources Group finds that ... are its oral administration, alternative mechanism of action, ... rheumatologists. Otezla was the first oral therapy specifically ... psoriatic arthritis in the United States ... conventional oral treatments including disease-modifying antirheumatic drugs (DMARDs), ...
Breaking Biology Technology:Lansering av världens första program för öppen innovation för att utbilda forskare 2Lansering av världens första program för öppen innovation för att utbilda forskare 3New Cuvette E-Commerce Website Launched by FireflySci 2Luzi Smart Lamp Recently Launched Indiegogo Campaign 2Luzi Smart Lamp Recently Launched Indiegogo Campaign 3Surveyed Rheumatologists Report That Otezla's Oral Administration is its Single Greatest Advantage Over Currently Available Treatment Options 2Surveyed Rheumatologists Report That Otezla's Oral Administration is its Single Greatest Advantage Over Currently Available Treatment Options 3
... Assistant Professor of Mechanical Engineering, Director of the Nanomechanics ... Program at Stevens Institute of Technology, was recently awarded ... E. Russell Johnston Jr. Outstanding New Educator Awards by ... was selected on the basis of his exceptional commitment ...
... Intellikine, Inc., a leader in the development of ... inflammation and autoimmune diseases, announced today that it has ... Bioventures Ltd. led the financing in which additional new ... Capital participated. Markus Goebel, M.D., Ph.D., Managing Director ...
... Biomatrica today announced that the Sorenson Molecular Genealogy Foundation ... to archive its DNA samples. , , ... ultra-low-temperature freezers for the long-term storage of all newly ... of previously archived samples from freezers to room temperature ...
Cached Biology Technology:Intellikine Completes $51 Million Financing 2Sorenson Molecular Genealogy Foundation to Protect Archived DNA Using Biomatrica's Room Temperature Storage 2Sorenson Molecular Genealogy Foundation to Protect Archived DNA Using Biomatrica's Room Temperature Storage 3
(Date:6/23/2015)... MINNETONKA, Minn. , June 23, 2015 /PRNewswire/ ... technology company that supports the entire spectrum of ... iMedNet ™ , the company,s ... has been awarded a Silver 2015 Stevie® Award ... the Health Products & Services Website category.  The ...
(Date:6/23/2015)... , June 23, 2015  Crossmatch™, a ... authentication solutions, today announced enhanced functionality of its ... solution.  The enhancements build on the native ... DigitalPersona Altus platform and provide expanded mobile ... In today,s environment of increasing cyber-attacks ...
(Date:6/17/2015)... GERMANTOWN, Maryland , June 17, 2015 /PRNewswire/ ...   Produktlinie mit DNA-Tests verbessert den Analyseprozess und senkt ... ; Frankfurt Prime Standard: QIA) hat heute in den ... Investigator ® für die ... neuen Kits zur Erstellung genetischer Fingerabdrücke bieten eine integrierte ...
Breaking Biology News(10 mins):MedNet Solutions' iMedNet eClinical Wins Silver Stevie Award 2Crossmatch Releases Enhanced DigitalPersona Altus Advanced Authentication Functionality 2QIAGEN bringt in den USA neue Kits für die forensische DNA-Analyse auf den Markt 2QIAGEN bringt in den USA neue Kits für die forensische DNA-Analyse auf den Markt 3QIAGEN bringt in den USA neue Kits für die forensische DNA-Analyse auf den Markt 4QIAGEN bringt in den USA neue Kits für die forensische DNA-Analyse auf den Markt 5QIAGEN bringt in den USA neue Kits für die forensische DNA-Analyse auf den Markt 6
... potential of genetically engineered foods to cause allergic reactions ... such crops. Although protocols are in place to ask ... test that offers definitive answers. , But all of ... has developed the first animal model to test whether ...
... technology for the isolation and enrichment of cells, a ... repair or replace diseased or damaged tissues and organs, ... traditional technology used for cell separation. , These findings ... Therapy (ISCT) annual meeting in Berlin, Germany. The ...
... unique to each nerve cell detect the chemical and send ... to understand what we are smelling or tasting. But a ... many different receptors to sense and interpret everything around it. ... molecular concentrations as small as 0.1 percent, the equivalent of ...
Cached Biology News:Tests may help answer questions about GMOs and allergies 2Embryos exposed in 3-D 2Researchers discover how bacteria sense their environments 2
...
... anti-viral agent. Inhibits several important steps of angiogenesis ... HUVEC cells. Also reduces intracellular reactive oxygen species ... of endothelial cells. Formula: ... 8 MolWeight: ...
22 x 50 mm; No. 1 thickness range: 0.13 to 0.17 mm, suitable for work in histology, cytology, urinalysis and microbiology, precleaned, store at room temperature ...
G-Protein Coupled Receptor Assay, For 500 assays. SPA. Category: Drug Screening & Cellular Assays, Assays ....
Biology Products: