BOCA RATON, Fla., Sept. 27 /PRNewswire-FirstCall/ -- Nabi
Biopharmaceuticals (Nasdaq: NABI) today announced that it has retained Banc
of America Securities LLC to assist with its exploration of the full range
of strategic alternatives available to the company to further enhance
shareholder value. These alternatives may include, but are not limited to,
licensing or development arrangements, joint ventures, strategic alliances,
a recapitalization, and the sale or merger of all or part of the company.
Since the announcement of the StaphVAX(R)(Staphylococcus aureus
Polysaccharide Conjugate Vaccine) clinical trial results last November, the
company's board of directors has worked with management and the company's
advisers to evaluate a broad range of strategic alternatives and to define
a business strategy and plan for the company. The board continues to
believe that the company's current strategy will build shareholder value.
However, the board is also sensitive to the interests of shareholders and
concluded at its last regular board meeting that the company should retain
Banc of America Securities to publicly explore whether there are strategic
alternatives available that would further enhance shareholder value.
There can be no assurance that the exploration of strategic
alternatives will result in any agreements or transactions. The company
does not intend to disclose developments with respect to the exploration of
strategic alternatives unless and until its Board of Directors has made a
decision regarding a specific transaction.
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: hepatitis and transplant, kidney disease (nephrology), Gram-positive
bacterial infections 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:
http://www.nabi.com.
Forward-Looking Statements
Statements in this press release about the company that are not
strictly historical are forward-looking statements and include statements
related to our plans to explore strategic alternatives and prospects. You
can identify these forward-looking statements because they involve our
expectations, beliefs, intentions, plans, projections, or other
characterizations of future events or circumstances. These forward-looking
statements are not guarantees of future performance and are subject to
risks and uncertainties that may cause actual results to differ materially
from those in the forward-looking statements as a result of any number of
factors. These factors include, but are not limited to, risks relating to
the company's ability to advance the development of products currently in
the pipeline or in clinical trials; 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.,
Europe or other markets; successfully develop, manufacture and market its
products; successfully partner with other companies; realize future sales
growth for its biopharmaceutical products; maintain sufficient intellectual
property protection or positions; raise additional capital on acceptable
terms; re-pay its outstanding convertible senior notes when due; and
identify and complete transactions that represent strategic alternatives
and opportunities. 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 31, 2005 and Quarterly Report on Form 10-Q for the
Quarter ended July 1, 2006 filed with the Securities and Exchange
Commission.
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 of Nabi Biopharmaceuticals, +1-561-989-5800
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