Navigation Links
Icagen Board Beginning to Follow Xmark Direction
Date:2/2/2009

RIDGEFIELD, Conn., Feb. 2 /PRNewswire/ -- Xmark Opportunity Partners, LLC ("Xmark"), the sole member of the investment manager of Xmark Opportunity Fund, L.P. and Xmark Opportunity Fund, Ltd., has, in the past, sent letters to the Board of Directors of Icagen, Inc. (Nasdaq: ICGN) setting forth its dissatisfaction with the company's corporate governance, management and strategic direction. Xmark would like to take this opportunity to respond to the Form 8-K filed by the company on January 29, 2009.

While Xmark applauds the Compensation Committee of the Board of Directors for choosing to not pay cash bonuses to the company's executive officers for 2008, it believes that this is but a small step in the right direction. Xmark is pleased that cash bonuses for the company's executive officers for 2009 will be based, in part, on "building shareholder confidence." However, Xmark believes that there are additional steps that can be taken by the company to pare its cash-burn requirements. As Xmark has repeatedly pointed out to the company, these are challenging economic times; the Board of Directors should continue to tighten the company's economic belt for the coming years.

Xmark remains committed to monitoring its significant common stock investment in the company and remains hopeful that it can engage in productive dialogue with the company to help it maximize shareholder value by, among other things, pursuing strategic alternatives.


'/>"/>
SOURCE Xmark Opportunity Partners, LLC
Copyright©2009 PR Newswire.
All rights reserved

Page: 1

Related medicine news :

1. Xmark Sends Letters to Icagens Board of Directors: Questions Companys Leadership as Well as Motives Behind Adoption of Poison Pill
2. Pharmacy Technician Certification Board (PTCB) Unveils New Testing Features for 2009: PTCB Exam to be Offered Daily; Test Results Given to Candidates Immediately in 2009
3. MedCom USA, Inc. Announces Appointment of One New Board Member and Removal of Two Existing Board Members
4. Elite Meetings International Names New Advisory Board
5. Light Sciences Oncology Elects Former FDA Commissioner Frank Young, M.D., Ph.D., to Board of Directors
6. Shaklee Partners With U.S. Ski Team and U.S. Snowboarding in Preparation for the 2010 Games in Vancouver
7. The Advisory Board Company Schedules Third Quarter Investor Conference Call for February 9, 2009
8. Bruce E. Mosler, President and CEO of Cushman & Wakefield Elected to CASA* Board
9. Quest Diagnostics Board Authorizes $500 Million in Share Repurchases
10. Dr Nabil Dib Takes on Special Advisor Role to the Stemedica Board of Directors
11. PPGI Appoints Rick Strandlund to the Board of Directors
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/7/2016)... MI (PRWEB) , ... December 07, 2016 , ... ... and financial consultation services from offices located in South Lyon, Dewitt, Williamston, East ... benefit a basketball coach who needs treatment for a brain tumor. , Jason ...
(Date:12/7/2016)... ... December 07, 2016 , ... A. Kevin Spann Insurance, a New York-based ... Five Boroughs, is launching a charity drive to raise funds that will benefit the ... spirit of marines and Navy FMF Corpsmen. Working closely with the MCL, the A. ...
(Date:12/7/2016)... (PRWEB) , ... December 07, 2016 , ... Delete® - ... in Time For The Holiday Party Season. Save Up To 33% Off Botox® and ... Salon is providing the Phoenix Valley with Delightful Deals on Botox® and ...
(Date:12/7/2016)... ... December 07, 2016 , ... Gensuite is ... Awards under the Best New Product Launch category. Gensuite’s entry on their EZ ... , BOC Global Events & Training Group is a professional event and training ...
(Date:12/7/2016)... ... 07, 2016 , ... “Walking With God: Inspirational Lessons from My Life's Journey”: ... to be aware of God's direction in their lives. “Walking With God: Inspirational Lessons ... and active church leader. , Sanford says, “I enjoy sharing the true ...
Breaking Medicine News(10 mins):
(Date:12/6/2016)... 6, 2016 Radioisotopes are radioactive isotopes having ... either by using nuclear research reactor or by using ... alpha, beta or gamma when changed to a stable ... Nuclear medicine, specifically in medical diagnostics. In this field, ... a human body,s functioning. Radiotherapy is also used to ...
(Date:12/6/2016)... Anaplastic Oligoastrocytoma - Pipeline Review, H2 ... Pharmaceutical and Healthcare disease pipeline guide Anaplastic Oligoastrocytoma ... of the Anaplastic Oligoastrocytoma (Oncology) pipeline landscape. ... when two types of cells in the brain, ... to form a mass. These brain cells are ...
(Date:12/6/2016)... Dec. 6, 2016   AlloSource , one ... bone, skin and soft-tissue allografts for use in ... Process Manager, for being named to the Board ... Quality Award by the Commerce Department,s National Institute ... commitment to process excellence. The Baldrige Award is ...
Breaking Medicine Technology: