Navigation Links
VaxGen Addresses MPM Claims in Letter to Stockholders

Seeks to Correct the Record and Provide Accurate Information to


SOUTH SAN FRANCISCO, Calif., Dec. 20 /PRNewswire-FirstCall/ -- VaxGen, Inc. (Pink Sheets: VXGN)


Dear Stockholder:

As you are aware, VaxGen and Raven biotechnologies announced on November 12, 2007 that their respective Boards of Directors had unanimously approved the merger of the two companies, subject to stockholder approval.

As you may also have seen, MPM BioEquities Advisors, a VaxGen stockholder, sent a letter to me and VaxGen's Board on December 11, 2007. The content of this letter was subsequently disclosed by MPM in a press release on December 12th. We believe that this letter and press release contain errors, misstatements and incorrect assumptions which MPM has used to support its recommendation that VaxGen terminate the proposed merger, place its assets into a holding company, and pursue the sale or distribution of those assets; i.e., liquidation. The primary purpose of my letter to you is to correct the record, and to ensure that all stockholders have the necessary, accurate information in order to make an informed decision regarding the proposed merger. I also want to take the opportunity to comment on a number of issues that have arisen in my many conversations with stockholders over the last month.

MPM's analysis appears to reflect errors of three kinds:

1. It relies on very aggressive, indeed unrealistic, valuations of the

Company's non-financial assets, especially in a liquidation scenario,

and ignores the extensive process the Company and its advisors have

already undertaken over this past year seeking to monetize these


2. It fails to take full account of VaxGen's liabilities a

Copyright©2007 PR Newswire.
All rights reserved

Page: 1 2 3 4 5 6 7 8 9

Related biology technology :

1. VaxGen Files 2006 Financial Statements and Provides Cash Update
2. VaxGen Further Restructures to Preserve Cash as It Pursues Strategic Initiatives
3. VaxGen Files First Quarter 2007 Financials
4. Jack Anthony to Resign From VaxGens Board After Accepting CEO Position at Osprey Pharmaceuticals
5. VaxGen Files Last Outstanding Periodic Report With SEC
6. Free White Paper Addresses Challenges of New FDA Regulations Awaiting Combo Product Manufacturers
7. Former Banc of America Securities Analyst David Maris Comments on Decision by Biovail to Drop Its Claims Against Him; Denies That He is Cooperating With Biovail
8. European Patent Office Upholds Martek European DHA Food Patent; Scope of Original Claims Narrowed
9. Lonza Withdraws Majority of Claims in Patent Lawsuit Against Northwest Biotherapeutics
10. Ciphergen Biosystems Receives Noncompliance Letter From The Nasdaq Stock Market
11. Indevus Receives Approvable Letter From FDA for VALSTAR(R) for Bladder Cancer Therapy
Post Your Comments:
(Date:10/17/2014)... October 17, 2014 For the ... employers, as published in today’s print issue of ... annual Top Employers Survey polled employees in the ... 20 best employers. Rankings were determined based ... to rate their companies on 23 characteristics, including ...
(Date:10/17/2014)... 17, 2014 The report "Advanced ... Boilers, Super Critical Boilers, Ultra Super Critical Boilers, ... Plants, Cogeneration Plants, Natural Gas Power Plants, Clean ... Global Trends & Forecasts to 2019", defines and ... analysis and forecast of the global revenue. , ...
(Date:10/17/2014)... (PRWEB) October 17, 2014 The Europe ... additives market in Europe with analysis and forecast of ... Fuel Additives Market report, to get an idea of ... of the segmentation in the European fuel additives market, ... , , Fuel additives are chemicals ...
(Date:10/17/2014)... Mallard Creek Polymers, ... of Styrene-Butadiene polymer emulsions for use in ... variety of other applications. Their Rovene®, Tylac® and ... these applications.  , Styrene-butadiene (SB) polymer emulsions ... effectiveness.  SB polymer emulsions possess superior water, ...
Breaking Biology Technology:DuPont Named Top Employer by Science Magazine 2DuPont Named Top Employer by Science Magazine 3Advanced Utility Boiler Market Worth $2,764.19 Billion by 2019 - New Report by MarketsandMarkets 2Advanced Utility Boiler Market Worth $2,764.19 Billion by 2019 - New Report by MarketsandMarkets 3Advanced Utility Boiler Market Worth $2,764.19 Billion by 2019 - New Report by MarketsandMarkets 4Advanced Utility Boiler Market Worth $2,764.19 Billion by 2019 - New Report by MarketsandMarkets 5The Europe Fuel Additives Market is estimated to grow to $1,401.4 million by 2018 - New Report by MicroMarket Monitor 2The Europe Fuel Additives Market is estimated to grow to $1,401.4 million by 2018 - New Report by MicroMarket Monitor 3The Europe Fuel Additives Market is estimated to grow to $1,401.4 million by 2018 - New Report by MicroMarket Monitor 4Mallard Creek Polymers Reminds Industry of the Full Line of Styrene-Butadiene Polymer Emulsions 2
... A few weeks back, I suggested that the role of IT ... I have this picture in my head of urgent communiqus and ... views all colliding in the middle of tense situations that could ... cross-culture experience, patience and a great deal of flexibility is the ...
... - A proposed state ban on all forms of ... on Children and Families and is headed for a full ... fast track with identical bills - SB 243 and AB ... has drawn vigorous opposition from both the scientific community and ...
... 499, a proposed ban on all forms of human cloning ... embryos both for reproductive purposes and for what practitioners have ... embryo for the purpose of extracting stem cells. Penalties for ... go up to ten years in prison and $1 million ...
Cached Biology Technology:IT is the New Foreign Service 2IT is the New Foreign Service 3Cloning ban too broad, stem-cell researchers argue 2Cloning ban too broad, stem-cell researchers argue 3Cloning ban too broad, stem-cell researchers argue 4
(Date:10/16/2014)... Conn. , October 16, 2014 NXT-ID, ... or the "Company"), a biometric authentication company focused on ... its leading edge technologies including Wocket™, the Smart Wallet, ... (FiRe) Conferenece. FiRe is a leading global conference on ... Hosted by Mark Anderson , founder and ...
(Date:10/15/2014)... As our ability to assess the pandemic risk from ... developments, we must not allow ourselves to become complacent ... an international consortium of scientists. , Influenza pandemics arise ... have yet to develop widespread immunity – spreads in ... in the past 100 years, the worst of which ...
(Date:10/15/2014)... German Gauß-Allianz has admitted Johannes Gutenberg University Mainz ... Rhineland-Palatinate science hub continues to maintain a significant ... , "The acceptance of Johannes Gutenberg University ... is a milestone in the national and international ... The state of Rhineland-Palatinate can be proud that ...
Breaking Biology News(10 mins):NXT-ID Inc. to Present at 13th Annual FiRe Conference 2NXT-ID Inc. to Present at 13th Annual FiRe Conference 3Scientists 'must not become complacent' when assessing pandemic threat from flu viruses 2Johannes Gutenberg University Mainz joins Germany's Gauss-Allianz as a full member 2Johannes Gutenberg University Mainz joins Germany's Gauss-Allianz as a full member 3
... Varanus komodoensis ) are known to bite prey and release ... the victims are reported to go into shock before the ... prey are killed by pathogenic bacteria in the dragons, mouths ... of Proceedings of the National Academy of Sciences ...
... active site found in a naturally occurring enzyme, chemists at ... like nature,s most pervasive hydrogen processor. , The researchers describe ... Journal of the American Chemical Society , and posted ... puzzled by nature,s ability to use cheap and plentiful building ...
... million cases of malaria are diagnosed each year mostly ... treat malaria do exist, the demand for new treatments ... have developed a resistance to existing medications. Now, ... have discovered one way to stop malaria parasite growth, ...
Cached Biology News:Komodo even more deadly than thought: Research 2New lead on malaria treatment 2
Convenient 10X buffer concentrate used to maximize binding to the solid phase in microwell ELISA. Formulated to provide optimal pH and ionic strength for binding of antibodies and some antigens. Co...
... PCR detection system holds 48 x 0.2 ml ... 48 LEDs independently excites fluorescence (470-500 nm) for ... detects emitted light (523-543 nm and 540-700 nm). ... cycler, whose Peltier heat pumps provide superb thermal ...
... assay (EMSA) is a powerful tool for ... gel shift or gel retardation, the assay ... subjected to electrophoresis, free DNA will migrate ... LightShift Chemiluminescent EMSA Kit is a nonradioactive ...
... Quantas unique combination of Coulter volume ... capabilities and accurate cell counting. This ... including UV, allowing flexible fluorochrome selection ... typically only achievable with larger, more ...
Biology Products: