EVANSTON, Ill., Sept. 24 /PRNewswire-FirstCall/ -- Northfield Laboratories
Inc. (Nasdaq: NFLD) today announced that dissident shareholder C. Roberts
Coates has requested that his representatives be permitted to conduct a review
of the shareholder proxies delivered in connection with Northfield's September
13 annual meeting of shareholders. IVS Associates, the independent inspector
of elections at the annual meeting, last week delivered its preliminary report
indicating that each of Northfield's seven director nominees had been elected
by a significant margin and that the proposal to ratify the appointment of
Northfield's independent auditors had also been approved overwhelmingly by
shareholders.
Steven A. Gould, M.D., Northfield's Chairman and Chief Executive Officer,
commented, "I am disappointed that Mr. Coates continues to prolong this
process. His actions are needlessly consuming management time and attention,
as well as Company funds that could be used for more productive purposes."
Northfield indicated that it had further adjourned its annual meeting
until Tuesday, October 1, 2002, at 10:00 a.m., local time, at its corporate
offices in Evanston, Illinois, in order to permit IVS to complete its
certification of the voting results from Northfield's annual meeting.
Statements in this release that are not strictly historical are "forward-
looking" statements that are made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995. Forward-looking
statements involve known and unknown risks, which may cause the company's
actual results in the future to differ materially from expected results. These
risks include, among others: competition from other blood substitute products;
the company's ability to obtain regulatory approval to market PolyHeme
commercially; the company's and/or its representative's ability to
successfully market and sell PolyHeme; the company's ability to manufacture
PolyHeme in sufficient quantities; the company's ability to obtain an adequate
supply of raw materials; the company's ability to maintain intellectual
property protection for its proprietary product and to defend its existing
intellectual property rights from challenges by third parties; the
availability of capital to finance planned growth; and the extent to which the
hospitals and physicians using PolyHeme are able to obtain third-party
reimbursement, as described in the company's filings with the Securities and
Exchange Commission.
Visit the Northfield website at: http://www.northfieldlabs.com
SOURCE Northfield Laboratories Inc.
 back to top
Related links:
http://www.northfieldlabs.com
CONTACT:
Steven A. Gould, M.D., Chief Executive
Officer, or Investors, Sophia Twaddell, both of Northfield
Laboratories, +1-847-864-3500, or Media, Cindy Martin of FRB
Weber Shandwick, +1-312-640-6741
|
