BioCentury
ARTICLE | Company News

Bioniche cancer news

May 20, 2013 7:00 AM UTC

Bioniche said it will not call a shareholder meeting despite the request of dissident shareholders. The company said its legal counsel advised that the request does not constitute a valid shareholder requisition. Bioniche said it will hold its scheduled annual meeting for the financial year ending June 30 on Nov. 5.

Last month, 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 dialogue with the company and all shareholders (see BioCentury, April 19). ...