Biotransplant Holders Seek To Put 2 Candidates On Board
DOW JONES NEWSWIRES
WASHINGTON -- Little Wing L.P. and Tradewinds Fund Ltd. reported Friday they are seeking to place two members on the board of BioTransplant Inc. (BTRN).
The investors said they asked the company's board in a letter to nominate Anthony Hitschler and Gregg Summerville to fill two newly created seats on the board.
Little Wing and Tradewinds said they "believe that Messrs. Hitschler and Summerville would improve (BioTransplant's) financial discipline and expertise," according to a filing made with the Securities and Exchange Commission.
The investors said in Friday's filing that they are confident that the company's new management would also improve financial discipline and expertise at the company.
On July 22, BioTransplant announced it had selected Donald B. Hawthorne as its new president and chief executive.
Little Wing reported beneficial ownership of 1.5 million BioTransplant common shares, or 6.1% of shares outstanding, and Tradewinds reported owning 463,282 BioTransplant common shares, or 1.83% of shares outstanding.
Parker Quillen, president of the general partner of Little Wing and president of the investment manager for Tradewinds, has met with company management, the filing said.
BioTransplant, Charlestown, Mass., is developing products for treatment of cancer and autoimmune diseases, and for organ and tissue transplantation. |
