Tang Capital Partners LP and Perceptive Life Sciences Master Fund Ltd. Urge the Shareholders of Penwest Pharmaceutical to Vote for Their Director Nominees

Published: Jun 07, 2010

SAN DIEGO & NEW YORK--(BUSINESS WIRE)--Tang Capital Partners, LP (“Tang Capital”) and Perceptive Life Sciences Master Fund Ltd. (“Perceptive”) today announced that they have sent a letter to the shareholders of Penwest Pharmaceuticals Co. (NASDAQ:PPCO). The letter urges shareholders to vote for much-needed change at the Company by electing Tang Capital and Perceptive’s three nominees to Penwest’s board of directors. The text of the letter follows.

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