BioSante Pharmaceuticals (BPAX) and Cell Genesys (CEGE) Announce Approval of Merger by BioSante Stockholders

September 30, 2009 4:21 PM EDT

BioSante Pharmaceuticals, Inc. (NASDAQ: BPAX) and Cell Genesys, Inc. (NASDAQ: CEGE), today announced that BioSante stockholders have approved the merger between the two companies with BioSante as the surviving company.

Ninety percent (90%) of the Cell Genesys shares voted to date have been voted in favor of the merger proposal. This leaves Cell Genesys approximately five percent of its outstanding shares short of having stockholder approval of the merger. Therefore, Cell Genesys has adjourned its stockholders meeting until October 14, 2009 to provide Cell Genesys stockholders additional time to cast their votes regarding the merger proposal. To date, a total of approximately 49.3 million shares of Cell Genesys have voted in favor of the merger. A majority of the outstanding shares, or 55.2 million shares, of Cell Genesys common stock as of August 21, 2009 must vote in favor of the merger proposal in order for the merger to be approved.

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