Leading Advisory Firm, PROXY Governance, Recommends Avigen Shareholders Vote on GOLD Card to Remove Incumbent Directors and Elect BVF's Stockholder-Oriente...(another leading independent proxy adviso...)

Date:3/23/2009

another leading independent proxy advisory service stated in their report, "the underperformance to peer indexes, positive market reaction to dissident involvement, the reactive nature of the company, governance concerns and the likely diverging incentive and risk tolerance of management and other shareholders such as BVF, we believe some change is needed and the board could benefit from greater shareholder representation." Mr. Lampert commented, "While we disagree with RiskMetrics' reluctance to recommend replacing the full Avigen Board, we do agree with the report's description of the Board's many failings. We encourage all shareholders to read these independent reports carefully."

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

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