MELBOURNE, AUSTRALIA--(Marketwire - October 23, 2012) - Biota Holdings Limited (ASX: BTA) (Biota) announces that the shareholders of Nabi Biopharmaceuticals Inc. (Nabi) have approved proposals related to the business combination transaction with Biota, at a shareholders meeting held at 4:30pm EDT on October 22, 2012 in Bethesda, MD.
As set out in the Explanatory Memorandum on August 6, 2012, Nabi shareholders were to vote on a number of proposals, including the following:
- To increase the authorised shares in Nabi to 200,000,000;
- To approve the issuance of shares of Nabi to Biota shareholders as contemplated by the Merger Implementation Agreement;
- To approve, at Nabi directors' sole discretion, a share consolidation in the range of four-to-one to eight-to-one; and
- To approve the change of name from Nabi Biopharmaceuticals to Biota Pharmaceuticals Inc.
Each of these proposals was approved by the requisite majority votes.
Biota shareholders will meet at 2:00pm on October 23, 2012 in Melbourne, Australia to approve the Revised Scheme of Arrangement in relation to the transaction. Shareholders unable to attend the meeting will be provided with results immediately upon conclusion.
Biota is a leading anti-infective drug development company based in Melbourne Australia, with key expertise in respiratory diseases, particularly influenza. Biota developed the first-in-class neuraminidase inhibitor, zanamivir, subsequently marketed by GlaxoSmithKline as Relenza. Biota research breakthroughs include a series of candidate drugs aimed at treatment of respiratory syncytial virus (RSV) disease and Hepatitis C (HCV) virus infections. Biota has a well advanced program for human rhinovirus (HRV) infection with a completed Phase IIb study in asthmatic subjects.
In addition, Biota and Daiichi Sankyo co-own a range of second generation influenza antivirals, of which the lead product lnavir®, is marketed in Japan. Biota holds a contract from the US Office of Biomedical Advanced Research and Development Authority (BARDA) for the advanced development of laninamivir in the USA.
Relenza™ is a registered trademark of the GlaxoSmithKline group of companies.
Inavir® is registered to Daiichi Sankyo.