Northstar Neuroscience, Inc. Responds to Unsolicited Proposal from Tang Capital Partners

SEATTLE--(BUSINESS WIRE)--Northstar Neuroscience, Inc., (NASDAQ: NSTR), a medical device company developing therapies for the treatment of neurological diseases and disorders, announced today that its Board of Directors has reviewed the proposal from Tang Capital Partners to enter into negotiations to acquire Northstar for $2.25 per share and concluded that the proposal is not in the best interests of all shareholders. Management and the Board of Directors will continue to work with the Company’s financial advisor, Leerink Swann, to evaluate strategic alternatives.