Tang Capital may become active Aradigm investor

By Lisa Kerner

Charlotte, N.C., Aug. 29 - Aradigm Corp. investors led by Tang Capital Partners, LP said they may "suggest, discuss or take a position on" potential changes to the company's business, including its cost structure, strategic direction, management, governance or future plans.

Tang, with an 11.3% interest, may also discuss with Aradigm a sale of the company, a corporate restructuring or spinoff, as well as a potential change of control.

The investors paid a total of $5.92 million for the approximately 6.21 million shares they own, according to a schedule 13D filed with the Securities and Exchange Commission.

Aradigm develops non-invasive delivery systems for self-administration of biopharmaceuticals and small molecules. The company is located in Hayward, Calif.

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