-- Search for New CFO Underway --
BOCA RATON, Fla., Jan. 30 /PRNewswire-FirstCall/ -- Nabi
Biopharmaceuticals (Nasdaq: NABI) announced today that Mark L. Smith has given
notice to resign from his position as the company's chief financial officer,
effective on or around March 1, 2006. He is leaving Nabi Biopharmaceuticals
to accept another career opportunity. Mr. Smith will continue to direct the
2005 compliance testing, coordinate the external audit effort and oversee the
filing of the company's Form 10-K. He will also support transitional
activities. An active search for a new chief financial officer is underway.
"Over the past several years Mark's dedication, loyalty and contributions
to Nabi Biopharmaceuticals have been unmatched. His leadership qualities and
astute abilities in finance and accounting have enabled him to make
significant and strategic contributions to our company's advancement. I also
want to thank him for putting a capable team into place and for developing the
internal competencies we will continue to leverage as we look to expand these
areas and attract new leadership. We wish Mark and his family well," said
Thomas H. McLain, chairman, chief executive officer and president, Nabi
Biopharmaceuticals.
About Nabi Biopharmaceuticals
Nabi Biopharmaceuticals leverages its experience and knowledge in powering
the immune system to develop and market products that fight serious medical
conditions. We are focusing on developing products addressing commercial
opportunities in our core business areas: Gram-positive bacterial infections,
hepatitis, kidney disease (nephrology), and nicotine addiction. We have three
products on the market today: PhosLo(R) (calcium acetate), Nabi-HB(R)
[Hepatitis B Immune Globulin (Human)], and Aloprim(TM) [Allopurinol sodium
(for injection)] and a number of products in various stages of clinical and
pre-clinical development. The company also filed Marketing Authorization
Applications (MAA) in Europe to market Nabi-HB(R) Intravenous [Hepatitis B
Immune Globulin (Human) Intravenous] under the trade name HEBIG(TM) for the
prevention of hepatitis B disease in HBV-positive liver transplant patients;
and for PhosLo, which is already marketed in the United States. The company's
products in development include NicVAX(TM) (Nicotine Conjugate Vaccine), a
vaccine to treat nicotine addiction, and Civacir(TM) [Hepatitis C Immune
Globulin (Human)], an antibody for preventing hepatitis C virus re-infection
in liver transplant patients. For additional information on Nabi
Biopharmaceuticals, please visit our website: http://www.nabi.com .
This press release contains forward-looking statements that reflect the
company's current expectations regarding future events. Any such forward-
looking statements are not guarantees of future performance and involve
significant risks and uncertainties. Actual results may differ significantly
from those in the forward-looking statements as a result of any number of
factors, including, but not limited to risks relating to the company's ability
to: advance the development of products currently in the pipeline or in
clinical trials; complete the assessment of the StaphVAX Phase III clinical
trials during the first half of 2006; maintain the human and financial
resources to commercialize current products and bring to market products in
development; obtain regulatory approval for its products in the U.S. or other
markets; successfully develop manufacture and market its products; utilize the
full capacity of its manufacturing facility; realize the value of its
acquisition of PhosLo; realize sales from Nabi-HB due to patient treatment
protocols and the number of liver transplants performed in HBV-positive
patients; realize the value from its vaccine manufacturing facility; realize
future sales growth for its biopharmaceutical products; prevail in patent
litigation; raise additional capital on acceptable terms; re-pay its
outstanding convertible senior notes when due; and the company's dependence
upon: third parties to manufacture its products and a small number of
customers. Many of these factors are more fully discussed, as are other
factors, in the company's Annual Report on Form 10-K for the fiscal year ended
December 25, 2004 filed with the Securities and Exchange Commission.
SOURCE Nabi Biopharmaceuticals
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Related links:
http://www.nabi.com
CONTACT:
Thomas E. Rathjen, Vice President, Investor
Relations, Nabi Biopharmaceuticals, +1-561-989-5800
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