Biotech Values

[DewDiligence]

Re: Alan Crane / MNTA BoD

Here’s the terse statement from MNTA’s 8K filing today:

http://sec.gov/Archives/edgar/data/1235010/000110465910018015/a10-7485_18k.htm

On March 31, 2010, Alan Crane submitted his resignation to the Board of Directors of Momenta Pharmaceuticals, Inc. (the “Company”), effective immediately. Mr. Crane’s decision to resign from the Company’s Board of Directors is not the result of any disagreement with the Company, known to an executive officer of the Company, on any matter relating to the Company’s operations, policies or practices.

My guess is that Polaris, the VC firm with whom Crane is associated, is planning to distribute some or all of its MNTA shares to the limited partners.

Those who have followed MNTA for a while may recall that Stephen Reeders of MVM Life Science Partners announced his departure from the BoD in Apr 2008 (#msg-28545464), around the time that his firm distributed its MNTA shares to the limited partners.