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:8/29/2014)... August 29, 2014 Pittcon is pleased ... and colleague Koichiro Matsuda, Horiba Scientific, have organized a ... 5, 2014. JASIS , Asia’s largest analytical and ... in Makuhari Messe, Japan. , The four speakers ... Bioanalysis from Single Molecules to Single Cells” will present ...
(Date:8/29/2014)... 29, 2014 A major challenge before ... start-up dense realm of Boston-Cambridge, is gaining visibility that ... James Sherley, the Director of Boston’s Adult Stem Cell ... and national visibility of his company an important priority ... In addition to a social media marketing campaign ...
(Date:8/28/2014)... “This kit has an improved extraction efficiency ... to 150 ppb,” said Mark Tess, PhD, Mycotoxin Product Manager ... plant owners and USDA-GIPSA inspection agencies that have a need ... take place in a matter of minutes with nothing but ... the feed and grain before accepting it, but they no ...
(Date:8/28/2014)... executives from clinical trial marketing firm BBK Worldwide will lead ... Clinical Trials 2014 , to be held at the Hyatt ... Patient recruitment experts Bonnie A. Brescia , Matthew ... on the benefits of employing an effective patient engagement strategy, ... mobile apps – can be used to drive study participation ...
Breaking Biology Technology:Fifth Annual U.S. Symposium at JASIS Organized by Pittcon’s Program Chairman Hub MacDonald 2The Adult Stem Cell Technology Center, LLC Participates in Multiple Stem Cell and Regenerative Medicine Conferences Before Year End 2The Adult Stem Cell Technology Center, LLC Participates in Multiple Stem Cell and Regenerative Medicine Conferences Before Year End 3The Adult Stem Cell Technology Center, LLC Participates in Multiple Stem Cell and Regenerative Medicine Conferences Before Year End 4BBK Worldwide Leads Sessions at Key September Events 2
... empower transplant patients ... and their ... (Pink Sheets: ALPMF), a leader in the field of transplantation, ... announced a collaborative partnership to jointly,develop further materials for the ...
... new class of anti-infectives, to ... advise Company on pexiganan development, WELLESLEY HILLS, Mass., Oct. ... following its,acquisition of rights to pexiganan, Michael Zasloff, M.D. has ... skin of the African clawed frog while at NIH (National ...
... SUNNYVALE, Calif., Oct. 16 Kyphon Inc.,(Nasdaq: KYPH ... the merger agreement with Medtronic, Inc. (NYSE: MDT ... As previously announced, on July 26, 2007, Kyphon entered ... Medtronic,agreed to acquire all of the outstanding shares of ...
Cached Biology Technology:Astellas Pharma US, Inc. and The International Transplant Nurses Society (ITNS) Collaborate on Content for Transplant Experience Program 2Astellas Pharma US, Inc. and The International Transplant Nurses Society (ITNS) Collaborate on Content for Transplant Experience Program 3MacroChem Announces Michael Zasloff, M.D., Ph.D. Joins Company's Scientific Advisory Board 2MacroChem Announces Michael Zasloff, M.D., Ph.D. Joins Company's Scientific Advisory Board 3MacroChem Announces Michael Zasloff, M.D., Ph.D. Joins Company's Scientific Advisory Board 4MacroChem Announces Michael Zasloff, M.D., Ph.D. Joins Company's Scientific Advisory Board 5Kyphon Stockholders Approve Merger with Medtronic 2
(Date:8/29/2014)... news release is available in German . ... key players in the natural nitrogen cycle on Earth ... specialist bacteria were thought to depend on nitrite as ... led by Holger Daims, a microbiologist at the University ... use hydrogen as an alternative source of energy. The ...
(Date:8/29/2014)... species of marine phytoplankton, such as the prolific bloomer ... B1 (thiamine), researchers have discovered. The finding contradicts the ... other eukaryotic microbes depend on scarce supplies of thiamine ... different way to think about the ocean," says CIFAR ... The ISME Journal paper with CIFAR fellows ...
(Date:8/29/2014)... modern materials that are light, flexible and highly conductive ... electronic paper. , Making such concepts affordable enough for ... of working with copper nanowires and a PVA "nano ... in the field of ultra-lightweight "aerogel monoliths" has largely ... nanowires. , By turning instead to copper, both ...
Breaking Biology News(10 mins):Hydrogen powers important nitrogen-transforming bacteria 2Hydrogen powers important nitrogen-transforming bacteria 3Not all phytoplankton in the ocean need to take their vitamins 2Not all phytoplankton in the ocean need to take their vitamins 3Copper shines as flexible conductor 2
... occurring in the Sundarbans, resulting in as much as 200m ... published today (11th Jan) in Remote Sensing by ... as human development thrives, and global temperature continues to rise, ... at alarming rates. This will inevitably lead to species loss ...
... are "apple-shaped" with fat more concentrated around the abdomen ... such as heart disease and diabetes than those who are ... thighs. But new research conducted at UC Davis ... and Metabolism provides further evidence that the protective benefits ...
... Oxidative stress is a primary villain in a host ... to Alzheimer,s disease, Amyotrophic Lateral Sclerosis and Parkinson,s disease. ... Research Institute (TSRI) have found that blocking the interaction ... neurons associated with these neurodegenerative diseases, suggesting a potential ...
Cached Biology News:Bengali forests are fading away 2UC Davis study deflates notion that pear-shaped bodies more healthy than apples 2UC Davis study deflates notion that pear-shaped bodies more healthy than apples 3Scripps Florida scientists uncover potential drug target to block cell death in Parkinson's disease 2
Form: Ready to use Applications: ELISA...
EnzChek Ultra Xylanase Assay Kit *500 assays*...
Goat polyclonal to p27 KIP 1 ( Abpromise for all tested applications). Antigen: Synthetic peptide: C-KRPATDDS STQNK, corresponding to Internal sequence amino acids 153-165 of Human p27 KIP 1 ...
Defender against cell death 1...
Biology Products: