Hedge fund BVF takes 6.1% stake in Affymax

Biotechnology Value Fund has accumulated 6.1 percent of Affymax Inc., the hedge fund said in a filing Friday with the Securities and Exchange Commission.
BVF, with offices in Chicago and San Francisco, said it controls 2.15 million shares of Palo Alto-based Affymax’s (NASDAQ: AFFY) roughly 35.5 million shares. BVF had not previously stated a position in the anemia drug developer.

Holdout Celera shareholder sells stock to Quest Diagnostics

A large hedge fund investor in Celera Corp. surrendered its 19.3 million shares to Quest Diagnostics Inc. , which bought the Alameda genetic test developer in May.
Biotechnology Value Fund LP withdrew its demand for an appraisal of its shares and accepted the same $8-per-share payout Quest (NYSE: DGX) made to other Celera shareholders. BVF general partner Mark Lampert had said in March that the Quest deal didn't adequately value Celera.

To move along $344M Quest deal, Celera plans to settle 4 shareholder suits

Celera Corp. will settle four shareholder lawsuits filed after Quest Diagnostics Inc. said it would buy the Alameda medical test developer for $344 million.
Meanwhile, Celera and Quest (NYSE: DGX) agreed to lower the deal’s termination fee to $15.6 million from $23.45 million, and Quest said it will extend its $8 per share offer until 5 p.m. (Eastern time) on May 2.

Big Celera shareholders line up against Quest deal

Two Celera Corp. shareholders do not support the company’s planned $344 million acquisition by Quest Diagnostics Inc. and say the companies need to renegotiate the deal.
Starboard Value & Opportunity Fund and Biotechnology Value Fund LP said in separate letters to Alameda-based genetic test developer Celera (NASDAQ: CRA) and Quest (NYSE: DGX) that the $8 per share deal does not reflect Celera’s value.