BOCA RATON, Fla., June 12 /PRNewswire-FirstCall/ -- Nabi
Biopharmaceuticals (Nasdaq: NABI) today announced the appointment of Jordan
I. Siegel as the company's senior vice president, finance, chief financial
officer (CFO) and treasurer, effective June 12, 2006. Mr. Siegel brings to
Nabi Biopharmaceuticals nearly 20 years of domestic and international
finance, treasury and accounting expertise, as well demonstrated success in
leading strategic financial initiatives.
Mr. Siegel joins Nabi Biopharmaceuticals from IVAX Corporation, where
he most recently served as vice president of finance for its subsidiary,
IVAX Pharmaceuticals, Inc. In this role he was responsible for all
financial and accounting activities related to IVAX Pharmaceuticals' U.S.
generic pharmaceutical business, including financial reporting, internal
controls, Sarbanes-Oxley compliance and strategic planning. Prior to this
role, Mr. Siegel served as vice president and treasurer, and was
responsible for investor relations.
"Jordan has an impressive record of success, significant industry
experience and demonstrated skills in finance, accounting, treasury and
investor relations," stated Thomas H. McLain, chairman, chief executive
officer and president, Nabi Biopharmaceuticals. "His knowledge and
experience in the pharmaceutical industry will be valuable assets to Nabi
Biopharmaceuticals as we work to achieve our key business objectives and to
build value for our shareholders."
Mr. Siegel is a Certified Public Accountant. He received his bachelor's
degree in accounting and his master of business administration in finance
from Florida Atlantic University and earned a bachelor's degree in finance
from the University of Florida.
In connection with the commencement of Mr. Siegel's employment, the
company will grant him options to purchase 40,000 shares of the company's
common stock and 60,000 shares of restricted stock. The exercise price of
the options will be the closing price per share on the date of grant. The
options will expire on the seventh anniversary of the grant date and become
exercisable in four equal annual installments beginning on the first
anniversary of the grant date, subject to his continued employment. The
restricted stock will vest in full on the third anniversary of the grant
date, provided that Mr. Siegel is employed by the company on that date.
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. The company has 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. Nabi
Biopharmaceuticals is focused on developing products that address unmet
medical needs and offer commercial opportunities in our core business
areas: Gram-positive bacterial infections, hepatitis and transplant, kidney
disease (nephrology) and nicotine addiction. For a complete list of
pipeline products, please go to: http://www.nabi.com/pipeline/index.php .
The company is headquartered in Boca Raton, Florida. For additional
information about Nabi Biopharmaceuticals, please visit our Website at:
http://www.nabi.com .
SOURCE Nabi Biopharmaceuticals
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Related links:
http://www.nabi.com
http://www.nabi.com/pipeline/index.php
CONTACT:
Thomas E. Rathjen, Vice President, Investor
Relations, Nabi Biopharmaceuticals, +1-561-989-5800
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