BVF Partners Reaches Agreement with Oncothyreon Regarding Board Representation and CEO Search

As previously announced, Olshan client BVF Partners reached an agreement with Oncothyreon, a clinical-stage biopharmaceutical company, regarding changes to the Company’s board composition and the search for a new CEO. In connection with the agreement with BVF Partners, Oncothyreon announced that its CEO has resigned and that the Company would commence a CEO search process.  The agreement called for the immediate appointment of Gwen Fyfe, M.D., a highly-regarded member in the biopharmaceutical field, and BVF’s founder Mark Lampert.  Pursuant to the agreement, the Board established a three-member CEO search committee, which includes Mr. Lampert, to oversee and identify a new CEO.  Olshan represented BVF Partners in connection with their activist campaign at Oncothyreon.