Nabi establishes new strategic biologics unit

USA-based Nabi Biopharmaceuticals, which is focused on the development of immunomodulatory treatments for serious disorders, says that its newly-created business unit, Nabi Biologics, will be responsible for advancing the company's pipeline of drug candidates. The Boca Raton, Florida-headquartered firm also announced that it is pursuing discussions for the sale of the whole, or a significant part, of the company.

Nabi said that senior vice president of research, technical and production operations Raafat Fahim would manage the new unit, while Jordan Siegel, current senior vice president of finance and administration, will help streamline the firm's transformation into two independent businesses. In addition, setting up the new division has led to the elimination of 32 jobs, or 5% of its total workforce, which will, the firm added, result in cost savings of around $3.0 million per year.

Interim Nabi chief executive and president Leslie Hudson said the company had, since his appointment earlier this year, "focused on the strategic alternative process and [has] leveraged the expertise and success of Cato Research to work more closely with the [Food and Drug Administration] to secure expanded approvals for Nabi-HB [cleared, since 1999, for the treatment of acute hepatitis B virus exposure; Marketletters passim]." He added that Nabi Biologics and the "soon" to be established Nabi Pharmaceuticals would help the company realize the value of its development pipeline.