Ac­tivists slam Im­munomedics’ $2B deal with Seat­tle Ge­net­ics in the mid­dle of a proxy war

Im­munomedics’ $2 bil­lion deal with Seat­tle Ge­net­ics late last week pro­voked a fresh as­sault from a group of ac­tivist in­vestors out to over­throw man­age­ment at the biotech.

Ven­Bio Ad­vi­sors gath­ered a 9.9% stake in Im­munomedics $IM­MU and charged in­to a bat­tle with the com­pa­ny’s board and top ex­ecs in a nasty squab­ble that’s sparked ac­cu­sa­tions of ly­ing and cheat­ing as the ac­tivists an­gled to get their 4 can­di­dates elect­ed to the Im­munomedics board.

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