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

nd unequivocally agreeing to proceed only with a transaction that provides for stockholders to receive no less than the Company's approximate liquidation value. In fact, it appears to us that the Board is only now even mentioning an undefined intent to provide some merger liquidity in response to our demand for full downside protection for all stockholders. We believe that Avigen's shares are undervalued by the market as a result of stockholders' concern about the direction the current Board is taking the Company. New leadership is needed to prevent further erosion of each stockholder's investment in Avigen, as well as to take advantage of opportunities that exist to maximize stockholder value.

Without Any Evident Rational Motive, Avigen Has Not Aggressively Pursued The COMPELLING Merger Proposal By MediciNova That Offered BOTH Downside Protection AND Significant Upside To All Avigen Stockholders

Unlike the current Board, we believe that a merger with MediciNova makes sense for all Avigen stockholders and we cannot understand why only lip service was paid to pursue a deal with MediciNova. Among the extraordinary potential benefits we see in a merger with MediciNova are:

  • Downside Protection: Based on our analysis, even if a merger with MediciNova is unsuccessful, Avigen stockholders would still receive the approximate current liquidation value of Avigen. This means that, even in the worst-case scenario, the merger would yield an approximate 65% premium to Avigen's stock price before we submitted our request to the Company to call the special meeting.
  • Tremendous Upside Potential: Based on our analysis, if a merger with MediciNova is successful, Avigen stockholders could own a substantial percentage of MediciNova (approximately 45% of the combined company). We believe the Board has not had any substantive discussions with MediciNova. We do not understand
    '/>"/>

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:12/22/2014)... Brussels (PRWEB) December 22, 2014 The ... the global leader of technical training across the life ... Clinical Data Management (SCDM) to provide the organization's ... certification programs —providing access to the more than 350 ... SCDM members with 10% off when registering for a ...
(Date:12/22/2014)... , Dec. 22, 2014 /PRNewswire/ - RepliCel Life ... regenerative medicine company focused on the development of autologous ... out of the University of Calgary in conjunction with ... Carolina, which further validates the company,s ongoing clinical research ... effects of pattern baldness. The paper entitled ...
(Date:12/22/2014)... , Dec. 22, 2014 GenomeDx Biosciences ... Decipher Prostate Cancer Classifier, a genomic test for prostate ... node-negative, high-risk men managed by radical prostatectomy without adjuvant ... prostatectomy is relatively uncommon, using tumor genomics to identify ... metastatic disease is an important advance. The study has ...
(Date:12/22/2014)... The American Journal of Hematology/Oncology, a ... editorials addressing developments and pathways related to oncological ... article exploring the role of follicle-stimulating hormone (FSH) ... prostate cancer. , The article references seminal ... there could be a connection to prostate cancer ...
Breaking Biology Technology:CfPIE Announces Partnership with the Society for Clinical Data Management 2CfPIE Announces Partnership with the Society for Clinical Data Management 3Newly Released Peer-Reviewed Publication Further Validates RepliCel's Use of Dermal Sheath Cup Cells to Treat Pattern Baldness 2Newly Released Peer-Reviewed Publication Further Validates RepliCel's Use of Dermal Sheath Cup Cells to Treat Pattern Baldness 3Newly Released Peer-Reviewed Publication Further Validates RepliCel's Use of Dermal Sheath Cup Cells to Treat Pattern Baldness 4Newly Released Peer-Reviewed Publication Further Validates RepliCel's Use of Dermal Sheath Cup Cells to Treat Pattern Baldness 5Study Published in European Urology Shows that the Decipher Prostate Cancer Classifier is Predictive of Rapid Metastasis in High-Risk Men who have had Prostate Surgery 2Study Published in European Urology Shows that the Decipher Prostate Cancer Classifier is Predictive of Rapid Metastasis in High-Risk Men who have had Prostate Surgery 3Prostate Cancer Experts Dissect the Role of Follicle-stimulating Hormone in the Development, Progression and Potential Treatment of Prostate Cancer 2Prostate Cancer Experts Dissect the Role of Follicle-stimulating Hormone in the Development, Progression and Potential Treatment of Prostate Cancer 3Prostate Cancer Experts Dissect the Role of Follicle-stimulating Hormone in the Development, Progression and Potential Treatment of Prostate Cancer 4
... the nation in its friendliness to small business and entrepreneurs, ... which released its 10th annual rankings last week. , ,The ... group headquartered in Washington, D.C. , ,According to SBE Council ... study, "The 'Small Business Survival Index' aims to ...
... of private colleges and universities in Wisconsin will work ... of Jenzabar, Inc. of Cambridge, Mass. , ... Wisconsin Association of Independent Colleges and Universities to ... Jenzabar EX ERP System, Jenzabar's Internet Campus Solution and ...
... important is the biotech industry to the economy of a ... , ,Better yet, look at the numbers. , ,That's ... Monica-based Milken Institute , did for a landmark study ... held in Philadelphia. Philly leaders wanted to know where that ...
Cached Biology Technology:Better collaboration urged to further Wisconsin biotech 2
(Date:11/21/2014)... November 18, 2014 According to ... by Systems (Video, RFID, Access Control, Intrusion Detection, Parking ... Banks, Government), Component Service Geography - Global Forecasts to ... is projected to be around $25 Billion in 2014 ... growing at a CAGR of 8.69%. Browse ...
(Date:11/21/2014)... 2014 Strict laws against distracted driving and ... North American and European automotive sector towards gesture recognition ... systems that are intuitive and able to retrieve information ... New analysis from Frost & Sullivan,s ... Europe and North ...
(Date:11/21/2014)... 2014   Atmel® Corporation (NASDAQ: ... touch technology solutions, today launched the industry,s first family ... widest V cc range from 1.7V to 5.5V. ... I 2 C bus communication speeds, and are available ... them ideal for consumer, industrial, computer, and medical applications. ...
Breaking Biology News(10 mins):Industrial Security Systems Market Worth $38 Billion by 2020 2Industrial Security Systems Market Worth $38 Billion by 2020 3Gesture Recognition Intensifies with the Rise of In-car Smartphone Integration, Says Frost & Sullivan 2Gesture Recognition Intensifies with the Rise of In-car Smartphone Integration, Says Frost & Sullivan 3Gesture Recognition Intensifies with the Rise of In-car Smartphone Integration, Says Frost & Sullivan 4Atmel Launches Industry's First Wide-V(cc) Low-Power Temperature Sensor Family 2Atmel Launches Industry's First Wide-V(cc) Low-Power Temperature Sensor Family 3Atmel Launches Industry's First Wide-V(cc) Low-Power Temperature Sensor Family 4
... at US colleges and universities that teach mostly ... BioScience for coordinating networks to expand the ... institutions. The group, which has launched a ... coordination of current research efforts will allow "transformative ...
... A common component in webcams may help drug makers ... an unhealthy change in the way the heart beats. Researchers ... webcam technology to create a tool to look at the ... cardiomyocytes. These findings were published in the journal, Lab ...
... -- MIT chemical engineers have designed a new type of ... tumors: They are more acidic than healthy tissues. Such ... be designed to carry virtually any type of drug, says ... for Integrative Cancer Research at MIT and senior author of ...
Cached Biology News:Webcam technology used to measure medications' effects on the heart 2MIT: Removable 'cloak' for nanoparticles helps them target tumors 2
...
Experion spin filters are used to filter the gel matrix and gel stain solution prior to use with the Experion automated electrophoresis system. Supplied as 10 spin filters....
... use in the Microsart e.motion are sterile-sealed, without ... a specially designed individual package on a band. ... of membrane filter units ensures that they are ... sealed band guarantees uniform dispensing of the individual ...
... The model 55S Rocking Shaker provides ... and blotted membranes. The very slow ... degree of tilt provide a gentle ... over gels and blotted membranes to ...
Biology Products: