Sale of PentaStaph to
$47.5 million
November 2009
Nabi Biopharmaceuticals
Sale of PentaStaph to GlaxoSmithKline PLC
[Press Release 1]
[Press Release 2]
Sale of PentaStaph to GlaxoSmithKline PLC
[Press Release 1]
[Press Release 2]
Announced: August 2009Closed: November 2009
Headquarters: Rockville, MD
President and Chief Executive Officer: Raafat Fahim
Senior Vice President, Clinical, Medical and Regulatory Affairs: Paul Kessler
Senior Vice President, Strategic Planning and Business Operations: Matthew Kalnik
Board of Directors: Jason Aryeh, David Castaldi, Geoffrey Cox, Peter Davis, Raafat Fahim, Richard Harvey, Jr., Linda Jenckes, Timothy Lynch, Stephen Sudovar
Nabi, a biopharmaceutical company, has leveraged its experience and knowledge in powering the immune system to develop products that target serious medical conditions in the areas of gram positive bacterial infections and nicotine addiction. Nabi is developing NicVAX (Nicotine Conjugate Vaccine), an investigational vaccine for treatment of nicotine addiction and prevention of smoking relapse, and PentaStaph (Pentavalent S. aureus Vaccine), a vaccine designed to protect against the most dangerous and prevalent strains of S. aureus bacterial infections. Acting as exclusive financial advisor for ex-Asian territories, Torreya ran a process which resulted in the sale of PentaStaph and related assets to GlaxoSmithKline. Nabi received an initial cash payment of $20 million upon closing and is eligible to receive an additional $27.5 million based on the achievement of milestones.
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