SOUTH SAN FRANCISCO, Calif., Jan. 22 /PRNewswire-FirstCall/ -- VaxGen
Inc. (Pink Sheets: VXGN.PK), a biopharmaceutical company, announced today
that it has not yet formally determined the record date for the stockholder
vote on VaxGen's proposed merger with Raven biotechnologies, inc. Only
stockholders of record as of the record date will be entitled to vote on
the proposed merger. Beneficial owners of VaxGen shares held in "street
name" as of the record date must follow the instructions of their broker
with regard to the voting of shares. At this point, the Company anticipates
that the record date will be January 31, 2008, subject to formal approval
by VaxGen's board of directors.
(Logo: http://www.newscom.com/cgi-bin/prnh/19991112/VAXGENLOGO )
At a conference hosted by Punk Ziegel on January 18, 2008, Dr. George
Schreiner, the CEO of Raven biotechnologies, incorrectly stated that the
record date had been set for January 23, 2008, as had been proposed in
VaxGen's preliminary proxy statement/registration statement on Form S-4
filed on Dec 21, 2007.
The final record date and date of the stockholder meeting will be
disclosed in the Notice of Special Meeting of Stockholders included with
the company's definitive proxy statement/registration statement on Form S-4
at the time such registration statement is declared effective by the
Securities Exchange Commission.
About VaxGen
VaxGen is a biopharmaceutical company based in South San Francisco,
California. The company owns a state-of-the-art biopharmaceutical
manufacturing facility with a 1,000-liter bioreactor that can be used to
make cell culture or microbial biologic products. For more information,
please visit the company's web site at http://www.vaxgen.com.
About Raven
Raven biotechnologies, inc. is a privately held biotechnology company
focused on the development of monoclonal antibody therapeutics for treating
cancer. Raven's lead product candidate, RAV12, targets adenocarcinomas and
is in clinical development for the treatment of gastrointestinal and other
cancers. Raven, which is based in South San Francisco, California, has
identified multiple candidate therapeutic MAbs for many cancer indications
including lung, colon, pancreatic, prostate, breast, brain, and ovarian
cancer. Please visit http://www.ravenbio.com for more information about Raven
biotechnologies inc.
Note: This press release contains "forward-looking statements" within
the meaning of the federal securities laws. These forward-looking
statements include, without limitation, statements regarding the
anticipated record date for the special meeting of VaxGen stockholders to
vote on the proposed merger with Raven biotechnologies, inc.. These
statements are subject to risks and uncertainties that could cause actual
results and events to differ materially from those anticipated. Additional
information concerning these and other risk factors is contained in
VaxGen's Annual Report on Form 10-K for the year ended December 31, 2006
and most recently filed Quarterly Report on Form 10-Q. Readers are
cautioned not to place undue reliance on these forward-looking statements
that speak only as of the date of this release. VaxGen and Raven undertake
no obligation to update publicly any forward-looking statements to reflect
new information, events, or circumstances after the date of this release
except as required by law.
Additional Information and Where to Find It
VaxGen has filed a registration statement on Form S-4, and a related
proxy statement/prospectus, in connection with the merger. Investors and
security holders are urged to read the registration statement on Form S-4
and the related proxy/prospectus because they contain important information
about the merger transaction. Investors and security holders may obtain
free copies of these documents (when they are available) and other
documents filed with the SEC at the SEC's web site at http://www.sec.gov. In
addition, investors and security holders may obtain free copies of the
documents filed with the SEC by contacting VaxGen Investor Relations at the
email address: ir@vaxgen.com.
This communication shall not constitute an offer to sell or the
solicitation of an offer to sell or the solicitation of an offer to buy any
securities, nor shall there be any sale of securities in any jurisdiction
in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction. No offering of securities shall be made except by means of a
prospectus meeting the requirements of Section 10 of the Securities Act of
1933, as amended.
VaxGen, Raven and their respective directors and executive officers may
be deemed to be participants in the solicitation of proxies from the
stockholders of VaxGen in connection with the merger transaction.
Information regarding the special interests of these directors and
executive officers in the merger transaction is included in the proxy
statement/prospectus described above. Additional information regarding the
directors and executive officers of VaxGen is also included in VaxGen's
definitive proxy statement for its 2007 Annual Meeting of Stockholders
which was filed with the SEC on November 21, 2007 and its Annual Report on
Form 10-K for the year ended December 31, 2006, which was filed with the
SEC on August 30, 2007. These documents are available free of charge at the
SEC's web site at http://www.sec.gov and from Investor Relations at VaxGen as
described above.
SOURCE VaxGen, Inc.
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Related links:
http://www.vaxgen.com/
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/19991112/VAXGENLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
Matthew Pfeffer of VaxGen, Inc.,
+1-650-624-2400
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