Glass Lewis Recommends Stockholders Vote on GREEN Consent Card for Velan Nominees to Constitute Majority of Progenics Board

ALPHARETTA, Ga.--(BUSINESS WIRE)--Velan Capital, L.P. (together with the other members of its group, “Velan” or “we”), one of the largest stockholders of Progenics Pharmaceuticals, Inc. (“Progenics” or the “Company”) (NASDAQ:PGNX), comprised of successful specialty pharmaceutical operators and financial services experts, today announced that a leading proxy advisory firm, Glass, Lewis & Co. (“Glass Lewis”), has recommended that stockholders vote on the GREEN consent card in support of Velan’s director nominees, Dr. Gérard Ber, Dr. Eric Ende, Heinz Mäusli and David Mims, to constitute a majority of the Progenics Board of Directors (the “Board”). Glass Lewis also recommended the removal of CEO Mark Baker and Dr. David Scheinberg from the Board.