NicVAX

ROCKVILLE, Md. — Nabi Biopharmaceuticals announced Feb. 8 that it has completed the manufacture and transfer of specified materials associated with the sale of the PentaStaph vaccine candidate to GlaxoSmithKline Biologicals.

As a result of this transfer, Nabi is eligible for $8 million under the agreement governing Nabi's sale of PentaStaph (pentavalent Staphylococcus aureus vaccine) and related assets to GSK.

Nabi sold PentaStaph to GSK for $46 million, including $26 million associated with accomplishing four milestone tasks. Nabi has earned $13 million in PentaStaph milestone payments to date.

The remaining $13 million in payments are associated with the completion of the Phase I trial and the successful transfer of technology.

In addition to the milestone payments earned thus far, Nabi received a cash payment of $21.5 million when the transaction closed in November 2009 that included $20 million associated with the transaction close, $1 million associated with the sale of a separate pre-clinical program for a vaccine against Staphylococcus epidermedis and $500,000 as reimbursement for license fees and clinical materials previously manufactured for use in the Phase I trial.

Nabi Biopharmaceuticals is developing NicVAX, an investigational vaccine for treatment of nicotine addiction and prevention of smoking relapse. The company is based in Rockville.