BOCA RATON, Fla., Nov. 8 /PRNewswire-FirstCall/ -- Nabi Biopharmaceuticals (Nasdaq: NABI) (the "Company") announced that, at today's Special Meeting of Stockholders, its stockholders voted overwhelmingly to approve the previously announced sale of assets transaction involving Biotest Pharmaceuticals Corporation and Biotest AG.
More than 60 percent of the outstanding shares of the Company's common stock were represented at the meeting and 98 percent of those shares were voted in favor of the sale of assets transaction.
"We are pleased and gratified by the strong support we have received from our stockholders and thank them for their continued commitment to Nabi Biopharmaceuticals," said Leslie Hudson, Ph.D., the Company's interim president and chief executive officer.
About Nabi Biopharmaceuticals
Nabi Biopharmaceuticals leverages its experience and knowledge in powering the immune system to develop and, in certain areas, market products that target serious medical conditions in the areas of hepatitis and transplants, gram positive bacterial infections and nicotine addiction. We are a vertically integrated company with sales of antibodies and other biologics, including Nabi-HB(R) [Hepatitis B Immune Globulin (Human)], a pipeline of products in various stages of development and a state-of-the-art manufacturing capability. The company operates through two strategic business units: Nabi Biologics and Nabi Pharmaceuticals. Nabi Biologics has responsibility for the company's protein and immunological products and development pipeline, including Nabi- HB. Nabi Pharmaceuticals is responsible for the NicVAX(R) (Nicotine Conjugate Vaccine) and StaphVAX(R) (Staphylococcus aureus Polysaccharide Conjugate Vaccine) development programs. For a complete list of pipeline products, please go to: http://www.nabi.com/pipeline/index.php. In September 2007, Nabi announced that it had entered into a definitive agreement with Biotest AG to sell the Nabi Biologics strategic business unit to Biotest Pharmaceuticals Corporation, including Nabi-HB(R) [Hepatitis B Immune Globulin (Human)], and other plasma business assets, including Nabi's state-of-the-art plasma protein production plant, and nine FDA-certified plasma collection centers across the U.S. The acquisition also will include certain of Nabi's Corporate Shared Services group assets and the company's Boca Raton, Florida headquarters and other facilities, as well as the assumption of certain liabilities, and is expected to close by the end of the year. The company is headquartered in Boca Raton, Florida. For additional information about Nabi Biopharmaceuticals, please visit our Web site: http://www.nabi.com.
|SOURCE Nabi Biopharmaceuticals|
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