ROCKVILLE, Md., Feb. 9, 2010 (GLOBE NEWSWIRE) -- Nabi Biopharmaceuticals (Nasdaq:NABI) (the "Company") announced today that it has commenced mailing its definitive proxy statement to stockholders for approval of the exclusive option and license agreement ("the NicVAX agreement") between the Company and GlaxoSmithKline Biologicals S.A. dated as of November 13, 2009 and the transactions contemplated thereby. The Company has scheduled a special meeting of stockholders for Tuesday, March 2, 2010 at 10:00 a.m. (EST) at the Bethesda Marriott, 5151 Pooks Hill Road in Bethesda, Maryland, to consider and vote on the NicVAX agreement and the transactions contemplated thereby. Stockholders of record as of the close of business on January 25, 2010 will be entitled to vote at the special meeting.
The Company's Board of Directors has unanimously determined that the NicVAX agreement and the transactions contemplated thereby are in the best interests of the Company and recommends that stockholders vote "FOR" the NicVAX agreement and the transactions contemplated thereby.
Stockholders are encouraged to read the Company's definitive proxy materials in their entirety (available at http://phx.corporate-ir.net/phoenix.zhtml?c=100445&p=proxy) as they provide, among other things, a detailed discussion of the process that led to the NicVAX agreement and reasons behind the Board of Directors' unanimous recommendation. Stockholders who have questions about the NicVAX agreement and the transactions contemplated thereby or who need assistance in submitting their proxy or voting their shares should contact the Company's proxy solicitor, Morrow & Co., LLC, toll free at 1-800-662-5200.
About Nabi Biopharmaceuticals
Nabi Biopharmaceuticals leverages its experience and knowledge in powering the immune system to develop products that target serious medical conditions in the areas of nicotine addiction and gram-positive bacterial infections. Nabi Biopharmaceuticals is currently developing NicVAX® (Nicotine Conjugate Vaccine), an innovative and proprietary investigational vaccine for treatment of nicotine addiction and prevention of smoking relapse. The company is headquartered in Rockville, Maryland. For additional information about Nabi Biopharmaceuticals, please visit www.nabi.com