BOCA RATON, Fla., Oct. 30 /PRNewswire-FirstCall/ -- Nabi
Biopharmaceuticals (Nasdaq: NABI) (the "Company") announced today that
RiskMetrics Group (ISS) and Glass Lewis & Co., two of the nation's leading
independent proxy advisory firms, recommend that stockholders of the
Company vote "FOR" the Company's proposed sale of its Biologics strategic
business unit and certain Corporate Shared Services assets to Biotest
Pharmaceuticals Corporation, a wholly owned subsidiary of Biotest AG,
pursuant to an asset purchase agreement dated September 11, 2007. ISS and
Glass Lewis provide voting advice to hundreds of institutional investors,
mutual and pension funds and other fiduciaries.
"The recommendations of these two leading independent proxy advisory
firms confirm our Board of Directors' unanimous view that the proposed
asset sale is in the best interests of Nabi stockholders," said Dr. Leslie
Hudson, Interim President and Chief Executive Officer of Nabi
Biopharmaceuticals. "We urge all of our stockholders to vote "FOR" the
proposed asset sale today."
Stockholders are encouraged to read the Company's definitive proxy
materials in their entirety as they provide, among other things, a detailed
discussion of the process that led to the proposed asset sale and reasons
behind the Board of Directors' unanimous recommendation that stockholders
vote "FOR" the proposed asset sale. Stockholders who have questions about
the asset sale or need assistance in submitting their proxy or voting their
shares should contact the Company's proxy solicitor, Morrow & Co., Inc.,
toll free at 1-800-662-5200.
The Company's special meeting of stockholders is scheduled for
Thursday, November 8, 2007, at 10:00 a.m., local time, at the Bethesda
Marriott, 5151 Pooks Hill Road, Bethesda, Maryland. Stockholders of record
at the close of business on October 10, 2007 are entitled to notice of and
to vote at the special meeting.
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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Related links:
http://www.nabi.com
http://www.nabi.com/pipeline/index.php
CONTACT:
Investor Relations of Nabi
Biopharmaceuticals, +1-301-770-3099
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