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Sunday July 12th, 2020 3:23PM

Velan Sends Letter to Progenics Pharmaceuticals Stockholders and Files Definitive Consent Statement

By The Associated Press

ALPHARETTA, Ga.--(BUSINESS WIRE)--Oct 8, 2019--

Velan Capital, L.P. (together with the other members of its group, “Velan” or “we”), one of the largest stockholders of Progenics Pharmaceuticals, Inc. (“Progenics” or the “Company”)(NASDAQ:PGNX), comprised of successful specialty pharmaceutical operators and financial services experts, today announced that it has sent a letter to fellow Progenics stockholders and filed a definitive consent statement with the Securities and Exchange Commission in connection with its solicitation of written consents from stockholders to reconstitute the Progenics Board of Directors through the removal of the three long-tenured directors and the election of five new, highly-qualified, fully-independent nominees.

The full text of Velan’s letter is available at the following link:

Velan Capital, L.P., Altiva Management Inc., Balaji Venkataraman, Virinder Nohria, LTE Partners, LLC, LTE Management, LLC, Melkonian Capital Management, LLC, Ryan Melkonian, Terence Cooke, Deepak Sarpangal, Gérard Ber, Eric J. Ende, Ann MacDougall, Heinz Mäusli and David W. Mims (collectively, the “Participants”) have filed a definitive consent statement and accompanying GREEN consent card with the Securities and Exchange Commission (“SEC”) to be used to solicit consents from stockholders of Progenics Pharmaceuticals, Inc., a Delaware corporation (the “Company”), for a number of proposals, the ultimate effect of which, if successful, would be to reconstitute the Board of Directors of the Company (the “Board”) through the removal of three current members of the Board and the election of the Participants’ five director nominees.

Stockholders are advised to read the definitive consent statement and any other documents related to the solicitation of consents by the Participants because they contain important information, including additional information relating to the Participants. These materials and other materials filed by the Participants in connection with the solicitation of consents will be available at no charge at the SEC’s website at . The definitive consent statement and other relevant documents filed by the Participants with the SEC will also be available, without charge, by calling the Participant’s proxy solicitor, Okapi Partners LLC, toll-free at (888) 785-6673 or by requesting copies via email to .

View source version on businesswire.com:

CONTACT: Investors:

Deepak Sarpangal

(415) 677-7050

info@velancapital.com

Okapi Partners LLC

Pat McHugh / Jason Alexander

(212) 297-0720

info@okapipartners.com

Media:

Joe Germani / Sarah Braunstein

Sloane & Company

(212) 486-9500

JGermani@sloanepr.com/SBraunstein@sloanepr.com

KEYWORD: UNITED STATES NORTH AMERICA GEORGIA

INDUSTRY KEYWORD: BIOTECHNOLOGY PHARMACEUTICAL FINANCE HEALTH BANKING PROFESSIONAL SERVICES

SOURCE: Velan Capital, L.P.

Copyright Business Wire 2019.

PUB: 10/08/2019 08:00 AM/DISC: 10/08/2019 08:01 AM

http://www.businesswire.com/news/home/20191008005534/en

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Corporate News, AP Online - Georgia News, AP Business Wire - Georgia, AP Business - Industries, AP Business - Health Care
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