SAN FRANCISCO--(BUSINESS WIRE)--MedCap Management & Research LLC and its affiliates (“MedCap”), a substantial VaxGen Inc. (VXGN) shareholder, today announced that it agrees entirely with the newly published recommendations by RiskMetrics Group/ISS Governance Services. For the upcoming March 28, 2008 special meeting for VaxGen, ISS counters the VaxGen management and board recommendations—ISS recommends a vote AGAINST both Item 1 (Issuance of Shares in Connection with Acquisition) and Item 2 (Omnibus Stock Plan) in its report dated March 14, 2008. MedCap also urges a vote AGAINST both proposals.
