Nabi Biopharma gets $5 million milestone under Fresenius accord

17 August 2011

In some positive news for US drug developer Nabi Biopharmaceuticals (Nasdaq: NABI), the company said it has received a $5 million milestone payment from Fresenius USA Manufacturing that was triggered by the first commercial sale of Phoslyra (calcium acetate solution), under the agreement governing the company's 2006 sale of PhosLo (calcium acetate) and related assets to Fresenius.

These assets included the rights to a new liquid formulation of PhosLo that Fresenius has commercialized as Phoslyra, a phosphate binder indicated for the reduction of serum phosphorus in patients with end stage renal disease.

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