EVANSTON, Ill., Sept. 30 /PRNewswire-FirstCall/ --
Northfield Laboratories Inc. (Nasdaq: NFLD) today announced that the review of
shareholder proxies delivered in connection with Northfield's September 13
annual meeting of shareholders requested by dissident shareholder C. Roberts
Coates is expected to take place on Wednesday, October 2, 2002. Northfield
plans to announce the final results of the meeting promptly following
completion of the review.
IVS Associates, the independent inspector of elections at the annual
meeting, has reported 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.
Because of the delay in completing the review, Northfield indicated that
it planned to further adjourn its annual meeting until Friday, October 4,
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.
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.
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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
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