SCHEDULE 14A
PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES
EXCHANGE ACT OF 1934 (AMENDMENT NO. )
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[ ] Preliminary proxy statement. [ ] Confidential, for use of the
Commission only (as permitted by
Rule 14a-6(e)(2)).
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[X] Definitive additional materials.
[ ] Soliciting material pursuant to Section 240.14a-12
NORTHFIELD LABORATORIES INC.
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(Name of Registrant as Specified in Its Charter)
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AT NORTHFIELD LABORATORIES: AT FRB | WEBER SHANDWICK:
Steven A. Gould, M.D. Lisa Fortuna Cindy Martin
Chief Executive Officer Investors Media
(847) 864-3500 (312) 640-6779 (312) 640-6741
FOR IMMEDIATE RELEASE
WEDNESDAY, SEPTEMBER 4, 2002
ISS RECOMMENDS VOTING "FOR" NORTHFIELD DIRECTOR NOMINEES
EVANSTON, ILLINOIS, SEPTEMBER 4, 2002 - NORTHFIELD LABORATORIES INC.
(NASDAQ/NMS: NFLD) today announced that Institutional Shareholder Services, the
nation's leading independent voting advisory firm, has recommended that its
clients vote in favor of Northfield's seven director nominees at the annual
meeting of shareholders to be held on September 13, 2002.
ISS, whose voting analyses and recommendations are relied upon by hundreds of
major institutional investment firms, mutual funds and fiduciaries throughout
the United States, stated, "The company is at a critical stage in its
development. Management's primary goal is to resolve the FDA status for
PolyHeme. As such, it is vital for the board to be equipped with highly
qualified directors who have the appropriate expertise. In comparison to Mr.
Coates's slate, it appears that management's new nominees provide more relevant
expertise to the board. Furthermore, there is no compelling evidence to suggest
that the board needs to be overseen by a dissident slate of independent
directors."
ISS also advised its members to discard the white proxy cards distributed by
dissident shareholder C. Robert Coates.
Steven A. Gould, M.D., Northfield's Chairman and Chief Executive Officer, said,
"We are gratified that ISS, after carefully considering the positions of both
Northfield and Mr. Coates, has recommended that its members support the
Company's director nominees. We view the ISS analysis as an important,
independent confirmation of the Board's continuing effort to protect and enhance
value for all Northfield shareholders."
Dr. Gould urged shareholders to act today by signing, dating and returning their
BLUE proxy cards.
Northfield Laboratories Inc. is a leading developer of an oxygen-carrying blood
substitute for trauma and elective surgery situations.
Statements in this release that are not strictly historical are
"forward-looking" statements that are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements involve known and unknown risks, which may cause the
company's actual results in the future to differ materially from expected
results. These risks include, among others: competition from other blood
substitute products; the company's ability to obtain regulatory approval to
market PolyHeme commercially; the company's and/or its representative's ability
to successfully market and sell PolyHeme; the company's ability to manufacture
PolyHeme in sufficient quantities; the company's ability to obtain an adequate
supply of raw materials; the company's ability to maintain intellectual property
protection for its proprietary product and to defend its existing intellectual
property rights from challenges by third parties; the availability of capital to
finance planned growth; and the extent to which the hospitals and physicians
using PolyHeme are able to obtain third-party reimbursement, as described in the
company's filings with the Securities and Exchange Commission.
VISIT THE NORTHFIELD WEBSITE AT: www.northfieldlabs.com
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