Tani sirasinda hastalarin ortalama BVF
Mark Lampert, BVF
Founder and President stated, "This is a great day for stockholder democracy -- stockholders have spoken and their wishes have prevailed.
RiskMetrics Group, 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.
has repeatedly called on the Board to guarantee downside protection for stockholders, rather than gambling the remaining stockholder money.
Partner stated, "In addition to confirming our plan for the future of the Company, we also wanted to clarify a few remaining issues for stockholders.
Avigen"), without cause, and for the election of BVF
's slate of director nominees to replace the removed directors at a special meeting of stockholders, to be called by Avigen at the request of BVF
and Biotechnology Value Fund II, L.
delivered its request for a special meeting to the Board over a month ago.
Speaking on behalf of BVF
, Mark Lampert, BVF
's General Partner, stated, "As the largest stockholder in Avigen, holding 8,819,600, or approximately 29.
On January 9, 2009, BVF
delivered a notice to Avigen to call a special meeting of stockholders to remove all incumbent directors and elect the BVF
Nominees, among other things.
reaffirms support for downside-protected merger with MediciNova
has nominated four highly qualified nominees, Mark N.
There is no assurance as to whether BVF
will accept the initial offer, whether Arena will make the second offer or whether the current discussions between Arena and BVF
will result in a further amendment to the Stockholders Agreement.