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	<title>Stock Blog Hub &#187; Avigen Inc.</title>
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		<title>(AVGN) Avigen to Be Acquired</title>
		<link>http://www.stockbloghub.com/2009/08/25/avgn-avigen-to-be-acquired/13282</link>
		<comments>http://www.stockbloghub.com/2009/08/25/avgn-avigen-to-be-acquired/13282#comments</comments>
		<pubDate>Tue, 25 Aug 2009 21:09:53 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Diagnostic Substances]]></category>
		<category><![CDATA[Healthcare]]></category>
		<category><![CDATA[AVGN]]></category>
		<category><![CDATA[Avigen Inc.]]></category>
		<category><![CDATA[Morgan Stanley]]></category>
		<category><![CDATA[MS]]></category>

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		<description><![CDATA[On Friday, Avigen Inc. (AVGN) announced that it will be purchased by MediciNova, Inc. (MNOV) for $1.24 per share in either cash or secured convertible notes. The deal has been valued at about $37 million. Approximately $1.19 of the consideration is scheduled be paid to Avigen shareholders upon the closing of the deal. The remaining 5 cents will be paid on June 30, 2010, subject to certain adjustments. Additionally, they will be entitled to a contingent payment right which will enable them to receive certain other payments. The deal is expected to close in the fourth quarter of this year, subject to shareholders&#8217; approval. Avigen has been on the lookout for a buyer ever since its lead candidate AV650 &#8212; for the treatment of spasticity associated with multiple sclerosis (MS) ]]></description>
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