Biodel Inc. (NASDAQ:BIOD) is pleased to announce that two leading proxy voting advisory firms, Institutional Shareholder Services, Inc. (ISS) and Glass, Lewis & Co., have recommended that Biodel stockholders vote “FOR” each of the proposals to be voted on at Biodel’s 2016 Annual Meeting of Stockholders scheduled for October 24, 2016, including a proposal for the issuance of Biodel’s common stock in the previously announced proposed transaction with Albireo Limited (Albireo) pursuant to a previously announced share exchange agreement.
Biodel’s board of directors has unanimously approved the share exchange agreement with Albireo and determined that the proposed combination of the companies and the issuance of shares of common stock in accordance with the share exchange agreement are in the best interests of Biodel and its stockholders.
Biodel stockholders seeking copies of the definitive proxy statement for Biodel’s 2016 Annual Meeting of Stockholders or requiring additional assistance to vote can contact Biodel’s proxy solicitor, Morrow Sodali at (800) 662-5200.
About Biodel
Biodel Inc. is a specialty biopharmaceutical company focused on the development and commercialization of innovative treatments for diabetes. More information about Biodel is available at www.biodel.com.
About Albireo
Albireo Limited is a holding company for Albireo AB, a clinical-stage biopharmaceutical company focused on the development of novel bile acid modulators to treat orphan pediatric liver diseases and other liver and gastrointestinal diseases and disorders. Albireo’s clinical pipeline includes two Phase 2 product candidates and one Phase 3 product candidate. Albireo was spun out from AstraZeneca in 2008 and is backed by top-tier life science investors such as Phase4 Ventures, TPG Biotech, TVM Capital Life Science and Aberdeen Asset Management, as well as AstraZeneca.