Wednesday, January 14, 2009

Avigen Hires Investment Bankers

Alameda-based Avigen said Wednesday that the firm has hired two investment banks to evaluate offers for the firm and its assets. According to the firm, RBC Capital Markets and Pacific Growth Equities LLC will oversee review of merger and acquisition opportunities for the firm, including efforts to monetize its AV411 assets. Avigen said in December that it would stop all of its clinical trials of its experimental treatments for treating symptoms of multiple sclerosis; the firm has also received a buyout offer from Medicinova, and one of its shareholders, Biotechnology Value Fund, L.P. is looking to replace Avigen's board.