HealthCor seeks representation on Trimeris board, pushes for sale of company

By Lisa Kerner

Charlotte, N.C., Feb. 4 - HealthCor Management, LP proposed the nomination of two of its own for election to Trimeris, Inc.'s board of directors.

The investor nominated Arthur Cohen, HealthCor founder and portfolio manager, and Evan Sturza, senior research analyst for the company, in a Feb. 1 letter to Trimeris' board. HealthCor's letter was included as part of a schedule 13D filing with the Securities and Exchange Commission.

In the letter, HealthCor reiterated its concern with the company's strategy direction and the continued development of TRI-114.

The investor recommended that Trimeris pursue a sale of the company and return excess cash to its shareholders.

According to the letter, in December Trimeris said it planned to reduce its workforce, wind down its research and evaluate options for maximizing shareholder value, including strategic transactions.

HealthCor has a 17.77% stake in the Morrisville, N.C., biopharmaceutical company.

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