Leading Advisory Firm, PROXY Governance, Recommends Avigen Shareholders Vote on GOLD Card to Remove Incumbent Directors and Elect BVF's Stockholder-Oriente... ( NEW YORK March 23 /- Biotechnology Va...)

HOME >> BIOLOGY >> TECHNOLOGY

Leading Advisory Firm, PROXY Governance, Recommends Avigen Shareholders Vote on GOLD Card to Remove Incumbent Directors and Elect BVF's Stockholder-Oriented Nominees

Date:3/23/2009

NEW YORK, March 23 /PRNewswire/ -- Biotechnology Value Fund, L.P. ("BVF") today announced that PROXY Governance, widely recognized as a leading independent proxy advisory firm, has recommended that shareholders vote for all BVF Proposals on the GOLD proxy card for the special meeting of Avigen, Inc. (Nasdaq: AVGN) to be held on March 27, 2009.

In its report PROXY Governance notes, "Under ordinary circumstances we believe the dissidents (BVF) must clear a high bar to justify a change in control of the board, and a still higher bar to remove a sitting CEO from the board. Given that the company is now in hibernation mode and a sale or liquidation is imminent, however - and the strong argument the dissidents have presented that shareholders face substantial risk if the board will not guarantee downside protection for their liquidity option - we believe shareholders would be best served by replacing the incumbent board with the dissident slate of nominees."

The report further notes, "that shareholders best interests are better served by the dissidents. We take the dissidents at their word that they would pursue the best offer which guaranteed the liquidity downside because - as a fund with a clear fiduciary obligation to its investors, and no economic relationship with MediciNova - their interests are clearly aligned with all other shareholders in the pursuit of that goal."

Mark Lampert, BVF Partner, stated, "We are gratified that PROXY Governance, a leader among the proxy advisory services, after thoughtful and insightful analysis, has recommended Avigen stockholders support our efforts to remove the current Board of Directors and replace them with our stockholder-oriented director nominees. We once again urge all stockholders to vote the GOLD proxy card for all BVF Proposals today."

RiskMetrics Group,
'/>"/>

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

0

GOOD

Page: 1 2
Related biology technology :

1. BioMarin Licenses Technology From Leading Cystic Fibrosis Research Laboratory at the University of California, San Francisco
2. Elekta Contract Provides Sisters of Mercy Health System Access to Leading Radiation Therapy Solutions
3. United BioSource Acquires Interest in Leading Adaptive Design Technology Service Provider
4. Panel to Discuss the Far-Ranging Effects and Consequences of Heart Disease, Which is the Leading Killer in Both Men and Women in the United States
5. FDA Approves Expanded Labeling for Campath(R) to Include First-line Treatment for Leading Form of Adult Leukemia
6. Cooler Solutions and Leading Research Hospital to Design Revolutionary Osteoporosis Diagnosis Device
7. K-State Research Leading to Software to Help Nations Cattle Producers Identify Biosecurity Risks, Evaluate Impact of Cow-Calf Diseases Online
8. Leading Biotechnology Company Grows with StayinFront CRM
9. Leading Pharmaceutical Communication Executives Gather for the 1st Annual Pharmaceutical Public Relations Symposium
10. Agendia Acquires Rights to the Discovery of a Major Drug Resistance Mechanism in Breast Cancer Potentially Leading to a Herceptin(R) Sensitivity Test
11. 2007 Massachusetts Biotechnology Council MASS Opportunities Investment Conference Showcases Leading Growth Companies

Post Your Comments:

(Date:12/16/2009)... turn microgears in suspended solution by swimming , ... ... -- Scientists at the U.S. Department of Energy’s (DOE) Argonne ... common bacteria can turn microgears when suspended in a solution, ... energy. , , ,“The gears are a million times more ...

(Date:12/16/2009)... Sequenom, Inc. (Nasdaq: SQNM ), today announced ... David Pendarvis to its board of directors. ... F. Buechler, Ph.D., was president, chief scientific officer ... 1994, Dr. Buechler was Biosite,s director of chemistry. ... senior research scientist for the diagnostics research and ...

(Date:12/16/2009)... American Filtration and Separations Society will hold its 23rd Annual Technical ... Hotel in San Antonio, Texas. To further impact the separation society ... are proud to announce that the 2010 AFS Annual Technical Conference ... , ... Minneapolis, MN (PRWEB) December 16, 2009 -- ...

(Date:12/15/2009)... -- Reportlinker.com announces that a new market ... ,, The Future of Orphan ... Pipeline Analysis and Reimbursement ,, ... Summary ,, The author has ... Orphan Diseases Therapeutics - Market Forecasts to ...

[0] Argonne Scientists Use Bacteria to Power Simple Machines [0] Sequenom Appoints Two New Board Members [0] American Filtration and Separations Society to Hold 23nd Annual Technical Conference [0] Reportlinker Adds The Future of Orphan Diseases Therapeutics - Market Forecasts to 2015, Pipeline Analysis and Reimbursement

... technology consultants and you want to get them talking, ask them: Have ... amazing thing. , ,You can ply your trade inside top companies for ... have to do is hang out a shingle. All of a sudden, ... your services for no money. , ,When I used to do HR ...

... , a University of Wisconsin-Madison spinoff working on hydrogen energy ... of Energy for continued research. , ,The company is trying ... a one-step process as part of a cars engine or ... of storing hydrogen, a highly explosive gas. , ,The ...

... good news? Your computer can now have a photographic ... a photographic memory. , ,This secretly sourced and powerfully ... Wordgraphic, Excelgraphic, PowerPointgraphic and textgraphic is again in ... delving deep within your very own computer rather than ...

Other Biology Technology:Dont work for free on a maybe someday 2 Dont work for free on a maybe someday 3 Dont work for free on a maybe someday 4 Google delves deep within your computer with new desktop tool 2 Google delves deep within your computer with new desktop tool 3 Google delves deep within your computer with new desktop tool 4 Google delves deep within your computer with new desktop tool 5

Dont work for free on a maybe someday Virent receives $2 million boost for hydrogen energy research Google delves deep within your computer with new desktop tool

(Date:12/16/2009)... has announced the winners of its student travel award ... the Moscone Convention Center in San Francisco, California, February ... selected based on scientific merit, with priority given to ... Each awardee receives a travel grant and will ... , The 2010 recipients of the Student Travel Award ...

(Date:12/16/2009)... an intricate network of interactions. Today,s techniques, however, ... reactions outside the cells. Since molecular concentrations are ... scientists suspect that the kinetics of molecular reactions ... We expected the cellular reaction speed to be ... our novel optical approach showed that depending ...

(Date:12/16/2009)... CA Tom Bowman, an expert in communicating scientific ... Change, has developed a series of graphics that translate ... Change (IPCC) report for public audiences. These new graphics ... need to make informed decisions about climate change risks ... a means to clearly and accurately communicate findings in ...

Breaking Biology News(10 mins):Biophysical Society announces winners of 2010 Student Travel Awards 2 Biophysical Society announces winners of 2010 Student Travel Awards 3 Biophysical Society announces winners of 2010 Student Travel Awards 4 Looking for the heartbeat of cellular networks 2 Bowman creates graphic translation of climate change data 2 Head of Process Sciences at aTyr Pharma to Speak at Bio Korea 2009 4928 1 Head of Process Sciences at aTyr Pharma to Speak at Bio Korea 2009 4928 2 Global Biomaterials Market Worth US 2458 1 Billion by 2014 13749 1 Global Biomaterials Market Worth US 2458 1 Billion by 2014 13749 2 Global Biomaterials Market Worth US 2458 1 Billion by 2014 13749 3 Gene signal GS 101 data shows safe and effective inhibition of ophthalmic blood vessel growth 9748 1 Gene signal GS 101 data shows safe and effective inhibition of ophthalmic blood vessel growth 9748 2 Gene signal GS 101 data shows safe and effective inhibition of ophthalmic blood vessel growth 9748 3

[0] Biophysical Society announces winners of 2010 Student Travel Awards [0] Looking for the heartbeat of cellular networks [0] Bowman creates graphic translation of climate change data

... such marine creatures as clams, sand dollars and lobsters ... ago with no clear trend afterwards, according to an ... dramatic increases beginning 248 million years ago and may ... time periods in the past are analogies for what ...

... a healthier place for toads than a ditch by a ... found the opposite is true. In a study with wide ... a threat to amphibians, UF zoologists have found that toads ... system abnormalities than toads near farms where some had ...

... CAMBRIDGE, Mass., July 3, 2008 -- Sirtris, a GlaxoSmithKline ... to treat diseases of aging such as Type 2 ... in today,s online edition of Cell Metabolism ... resveratrol showed an overall health improvement, including improved bone ...

Other Biology News:Species have come and gone at different rates than previously believed 2 Species have come and gone at different rates than previously believed 3 New study points to agriculture in frog sexual abnormalities 2 New study points to agriculture in frog sexual abnormalities 3 Long-term study of middle-aged mice shows 2 Long-term study of middle-aged mice shows 3

Species have come and gone at different rates than previously believed New study points to agriculture in frog sexual abnormalities Long-term study of middle-aged mice shows

... Cell Lines ,High Quality, Functionally-Validated, Ion Channel ... known for having a critical role in ... a key function in pain, CNS and ... have been investigated in therapeutic areas, such ...

Mouse monoclonal antibody raised against a partial recombinant CHD8. NCBI Entrez Gene ID = CHD8...

Mouse monoclonal antibody raised against a partial recombinant PASK. NCBI Entrez Gene ID = PASK...

... raised against a partial recombinant NFKBIB. ... 145 a.a) partial recombinant protein with GST tag. ... Accession: BC015528 ... OMIM: 604495, GeneID: ...

Biology Products:

hERG-CHO K1 Recombinant Cell Line from Upstate Mouse Anti-Human CHD8 Monoclonal Antibody, Unconjugated, Clone 2C8 from Abnova Corporation Mouse Anti-Human PASK Monoclonal Antibody, Unconjugated, Clone 6D10 from Abnova Corporation Mouse Anti-NFKBIB Monoclonal Antibody, Unconjugated, Clone 2B11 from Abnova Corporation

Leading Advisory Firm, PROXY Governance, Recommends Avigen Shareholders Vote on GOLD Card to Remove Incumbent Directors and Elect BVF's Stockholder-Oriente...( NEW YORK March 23 /- Biotechnology Va...)