Diffusion Pharmaceuticals Sends Letter To Stockholders Highlighting Strength Of Board Leadership And Positive Progress In Strategic Review, Cautioning Stockholders Regarding LifeSci's History Of Stockholder Value Destruction And Self-Dealing
$DFFN
Biotechnology: Pharmaceutical Preparations
Health Care
- Diffusion has a highly engaged and independent board that possesses the right skills and experience to execute the strategic review process
- Diffusion received bids from more than 15 companies participating in review process
- LifeSci invited to participate in review process on same terms as all other bidders following submission of client's unsolicited offer, but LifeSci instead chose to launch a proxy contest against our highly qualified board
- LifeSci's track record demonstrates a highly troubling pattern of self-dealing and stockholder value destruction, including more than $1.3 billion of stockholder losses in recent SPAC transactions
- Diffusion's board and management are fully committed to maximizing value for all stockholders through the completion of the strategic review process, notwithstanding LifeSci's self-serving attempts to disrupt the process
- Diffusion urges stockholders to vote "FOR" each of the Board's six nominees for director on your WHITE proxy card