Diffusion Pharmaceuticals urges shareholders to vote for six board nominees

Diffusion Pharmaceuticals sent a letter to its stockholders. The letter highlights the strength, experience and quality of the company’s board of directors as it continues to take steps to unlock stockholder value through a strategic review process. The letter also summarizes the value-destructive acquisition offer presented by LifeSci Capital on behalf of a purported client, the dismal track record of LifeSci Capital and its many affiliates in the biopharmaceutical space, and LifeSci-affiliated funds’ recent nomination of an unqualified dissident slate of nominees for election as directors at the company’s 2022 Annual Meeting of Stockholders. "Diffusion has a highly engaged and independent board that possesses the right skills and experience to execute the strategic review process. Diffusion received bids from more than 15 companies participating in review process. LifeSci invited to participate in review process on same terms as all other bidders following submission of client’s unsolicited offer, but LifeSci instead chose to launch a proxy contest against our highly qualified board. LifeSci’s track record demonstrates a highly troubling pattern of self-dealing and stockholder value destruction, including more than $1.3 billion of stockholder losses in recent SPAC transactions. Diffusion’s board and management are fully committed to maximizing value for all stockholders through the completion of the strategic review process, notwithstanding LifeSci’s self-serving attempts to disrupt the process Diffusion urges stockholders to vote ‘FOR’ each of the Board’s six nominees for director on your WHITE proxy card."