Nabi Biopharmaceuticals to begin strategic review process

By Lisa Kerner

Charlotte, N.C., Jan. 22 - The board of directors of Nabi Biopharmaceuticals approved the exploration of strategic alternatives including a sale or merger of the company.

Banc of America Securities LLC has been retained to assist in the strategic process, according to a company news release.

"The primary goal of this strategic alternatives process is to maximize shareholder value and we feel Nabi is now streamlined and well-positioned to do so," Nabi president and chief executive officer Dr. Raafat Fahim said in the release.

"We believe that this strategic alternatives process can more fully optimize the value of our most promising assets, namely NicVAX (nicotine conjugate vaccine) and StaphVAX (staphylococcus aureus vaccine)," Fahim added.

The Boca Raton, Fla., pharmaceutical company announced it is also working to achieve several clinical milestones in 2008:

• Initiating a phase 2 immunogenicity study for NicVAX;

• Initiating a phase 3 safety and efficacy trial for NicVAX; and

• Advancing the development of the new antigens of Nabi's pentavalent StaphVAX program, enabling the initiation of phase 1 clinical trials in early 2009.

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