BioCentury
ARTICLE | Company News

Bioniche cancer news

April 29, 2013 7:00 AM UTC

Bioniche responded to an April 19 letter from former Biovail Corp. CEO William Wells and former Biovail SVP Greg Gubitz, who represent a group of shareholders that together own over 5% of Bioniche shares. In the letter, the former Biovail executives say they had approached Bioniche with "tangible solutions to fix the company," but were rebuffed, and now seek open dialog with the company and all shareholders. In response, Bioniche said it had discussions with external advisors and that "several strategic partnering and investment-related offers have been made," but that the offer from the authors of the letter "did not favorably compare the opportunities under review." ...