Biotech Values

[DewDiligence]

Correction re MNTA shareholdings of Stephen
Reeders and MVM Life Science Partners:

In an earlier post, I erroneously stated that MVM had sold the bulk of its MNTA shares during 2007. In fact, MVM did not sell MNTA shares; rather it distributed MNTA shares to MVM’s limited partners as can be seen from this Form-4 filing on 3/31/08:

http://www.sec.gov/Archives/edgar/data/1235010/000118143108022130/xslF345X02/rrd201587.xml

The rationale for Reeders’ resignation from MNTA’s BoD is presumably that MVM, with many fewer MNTA shares now in its own name, no longer thinks MNTA warrants the kind of close attention that comes with a board seat.

MVM still owned 483K shares of MNTA as of the Form-4 filing above. Stephen Reeders personally holds 77K options, which will presumably expire when he resigns from the BoD in June (if they have not already been exercised).