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Biotech / Medical : SIBIA Neurosciences (SIBI) -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (508)	8/6/1999 12:54:00 PM
From: scaram(o)uche	Read Replies (1) \| Respond to of 579

Excerpt from today's SC 14D9..... we'll all be getting a copy in the mail...... recommend not reading, as it will make one ill........ In addition, on August 2, 1999, Mark Lampert, an affiliate of Biotechnology Value Fund, L.P., a major stockholder of the Company ("BVF"), in a telephone call with the Company's Chief Executive Officer, indicated that he was disappointed in the Offer price and that BVF may be willing to purchase shares of Company Common Stock held by The Salk Institute for Biological Studies, another major stockholder of the Company, for $8.50 per share and arrange for financing for the Company to be used in the Company's ongoing operations. During the morning of August 3, 1999, a pharmaceutical company which the Company had previously contacted indicated, in an unsolicited telephone call, that it was interested in acquiring the Company and that it was prepared to make an offer to acquire the Company that would be better than the offer of $8.50 per share that was publicly reported. No price or other terms were identified by such company. In addition, on August 4, 1999, a representative of an investment banking firm contacted CIBC on behalf of such pharmaceutical company and indicated that such pharmaceutical company was evaluating making a better offer for the Company than Parent's offer. No price or other terms were identified by such representative. On August 4, 1999, the Board held a telephonic meeting and unanimously (with all members present) ratified and approved the Merger Agreement, the Stock Option Agreement and the transactions contemplated thereby.