Nabi Biopharmaceuticals (NABI) Receives Grant Supporting Further NicVAX Development
9/29/2009 9:12:40 AM
ROCKVILLE, Md., Sept. 29, 2009 (GLOBE NEWSWIRE) -- Nabi Biopharmaceuticals (Nasdaq:NABI) and the U.S. National Institute on Drug Abuse (NIDA), part of the National Institutes of Health, announced today that NIDA has agreed to extend its support for the continued development of NicVAX(R), Nabi's proprietary vaccine to treat nicotine addiction and prevent smoking relapse. NIDA has granted the Company $10 million under the American Recovery and Restoration Act of 2009 (ARRA) to fund partially the first pivotal clinical trial. In conjunction with the grant, the Company has decided to proceed with the first pivotal phase III trial, while advancing strategic partnering discussions for the future development and commercialization of NicVAX.
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