Navigation Links
Ronald L. Chez Files Amended 13D and Letter to the Board
Date:7/23/2012

CHICAGO, July 23, 2012 /PRNewswire/ -- The following is a letter to the Repligen Board of Directors from Ronald L. Chez, Inc.

Board of Directors
Repligen Corporation
41 Seyon Street
Building #1, Suite 100 Waltham, MA 02453

Dear Board of Directors,

As one of the largest shareholders of Repligen Corporation ("Repligen" or "the Company") (Nasdaq: RGEN), I am writing to express my serious concerns regarding the lack of progress at the Company. As you know from our previous discussions I have, until recently, been a patient shareholder for the past 5 years. I acquired the shares because I believed that Repligen's stock was significantly undervalued. As Repligen's share price is virtually unchanged over the past five years (actually 10 years), I am no longer content waiting for the Board and management to take the necessary actions required to improve shareholder value. As a long­term shareholder with a 9.3% ownership stake, I believe the value of the Company's assets are not reflected in the current share price. Therefore, once again, I request that the Board take all appropriate actions to unlock the inherent value in the Company and explore strategic alternatives immediately.

As a result of the seemingly inexplicable missteps in regards to the RG1068 FDA approval process, I am further compelled to act now. Given the quality of the reread, and the cost and safety benefits of RG1068 compared to ERCP, and the planning, fast-track priority review and orphan drug status established with the FDA, the failure to get approval for RG1068 defies understanding. Every time Repligen appears to be on the verge of achieving a positive result, something goes wrong and as a result, the shareholders suffer.

As I have stated previously in my comments to the Board, I believe the bioprocessing assets have significant value and may be more effectively monetized by another company where there is an inherent strategic fit. I also continue to believe that the same analysis is most probably true for RG1068. RG1068 has absolutely no connection to the marketing and infrastructure of the bioprocessing business. We should be aggressively pursuing the advancement of RG1068 with a company where RG1068 would be a complementary asset.

In the absence of positive, definitive actions that will maximize shareholder value, I intend to pursue alternatives. If the Board is truly focused on maximizing shareholder value, the shareholders need to see that you are attuned to achieving positive results now, rather than later. The status quo has not produced shareholder value for a decade, and is no longer acceptable to me, and it should not be acceptable to the Board.

I appreciate your time and I hope to have a constructive dialogue with the Board regarding Repligen's business, assets, strategy and operations.

Patience is no longer a virtue.

Best regards,

/s/ Ronald L. Chez

Ronald L. Chez

(312) 944-0987


'/>"/>
SOURCE Ronald L. Chez, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Related biology technology :

1. ARUP Laboratories Pathologist, Ronald L. Weiss, MD, Honored With Lifetime Achievement Award for Contributions to Patient Care and Pathology
2. Sequenom, Inc. Files Notice Of Appeal Of Preliminary Injunction Denial
3. 3SBio Inc. Files Annual Report on Form 20-F for Fiscal Year 2011
4. Human Pheromone Sciences Voluntarily Files With SEC for Termination of Registration
5. Genetics Policy Institute (GPI) Files Additional Legal Arguments in Sherley v. Sebelius Stem Cell Case
6. Coalition to Save Pure Files Proxy Documents With SEC, Urges Pures Board to Set an Annual Meeting Date
7. Synergy Pharmaceuticals, Inc. Files Suit Against Ironwood Pharmaceuticals, Inc. and its Chief Scientific Officer and Senior VP of R&D, Dr. Mark G. Currie
8. Elsevier to Participate in SCOAP3 With the Journals Physics Letters B and Nuclear Physics B
9. Bacterin Receives Letter From NYSE MKT LLC Regarding Timely Notice of Record Date for 2012 Annual Meeting of Stockholders
10. Genesis Biopharma Issues Letter To Shareholders
11. NeoStems CEO Letter to Shareholders
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... /PRNewswire/ - FACIT has announced the creation of ... company, Propellon Therapeutics Inc. ("Propellon" or "the Company"), ... portfolio of first-in-class WDR5 inhibitors for the treatment ... represent an exciting class of therapies, possessing the ... cancer patients. Substantial advances have been achieved with ...
(Date:6/23/2016)... Prostate Cancer Foundation (PCF) is pleased to announce 24 new Young Investigator ... Members of the Class of 2016 were selected from a pool of 128 ... About the Class of 2016 PCF Young Investigators ... ... ...
(Date:6/23/2016)... ... June 23, 2016 , ... STACS DNA Inc., the sample ... the Arkansas State Crime Laboratory, has joined STACS DNA as a Field Application Specialist. ... said Jocelyn Tremblay, President and COO of STACS DNA. “In further expanding our capacity ...
(Date:6/23/2016)... June 23, 2016 ... 2016;12(1):22-8 http://doi.org/10.17925/OHR.2016.12.01.22 Published recently ... peer-reviewed journal from touchONCOLOGY, Andrew D Zelenetz ... of cancer care is placing an increasing burden ... expensive biologic therapies. With the patents on many ...
Breaking Biology Technology:
(Date:6/15/2016)... , June 15, 2016 ... market report titled "Gesture Recognition Market by Application Market - Global ... 2016 - 2024". According to the report, the  global ... billion in 2015 and is estimated to grow ... 48.56 billion by 2024.  Increasing application ...
(Date:6/2/2016)... The Department of Transport Management (DOTM) ... million US Dollar project, for the , Supply ... Enrolment, and IT Infrastructure , to ... implementation of Identity Management Solutions. Numerous renowned international vendors participated ... was selected for the most compliant and innovative ...
(Date:5/20/2016)... , May 20, 2016  VoiceIt is ... partnership with VoicePass. By working together, ... experience.  Because VoiceIt and VoicePass take slightly different ... engines increases both security and usability. ... excitement about this new partnership. "This ...
Breaking Biology News(10 mins):