BOCA RATON, Fla., May 24 /PRNewswire-FirstCall/ -- Nabi Biopharmaceuticals today announced that it has elected Peter B. Davis to its board of directors. Most recently, Mr. Davis was vice president of finance and chief financial officer at XOMA Ltd., a biotechnology company that develops and commercializes antibody and other protein-based biopharmaceuticals for cancer, immune disorders and infectious diseases. With the addition of Mr. Davis, Nabi Biopharmaceuticals’ board now totals eight members. Mr. Davis is a recognized veteran in the life sciences, with a particular expertise in financial reporting and management.
“We are pleased to have someone of Peter’s caliber join the Nabi Biopharmaceuticals board,” stated Thomas H. McLain, chairman, chief executive officer and president, Nabi Biopharmaceuticals. “His expertise and experience in finance will greatly supplement our Board and he will play a critically important role on our Audit Committee. The knowledge he will bring to Nabi Biopharmaceuticals is particularly important in today’s environment. We look forward to the many contributions he will make to our company.”
As vice president of finance and chief financial officer at XOMA, Mr. Davis was responsible for all financial activities, corporate communications and information technology. He also secured over $400 million in financing to support development activities. Prior to XOMA, he was vice president of financial operations at Serono, Inc., a pharmaceuticals company focusing on recombinant genetic engineering to develop drugs. There, Mr. Davis was responsible for all financial aspects of the $850 million operating group. In addition, he was vice president of finance and chief financial officer at Akzo Nobel, Inc.; controller-international at Stauffer chemical company; and has held several positions at Pepsico, Inc.
Mr. Davis received his M.B.A at the University of Chicago and his B.A. in mathematics from Northwestern University in Evanston, IL.
Statements in this press release about the company that are not strictly historical are forward-looking statements and include statements about our products in development, the market for such products, clinical trials and studies, intellectual property position, and alliances and partnerships. You can identify these forward-looking statements because they involve our expectations, beliefs, plans, projections, or other characterizations of future events or circumstances. These forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that may cause actual results to differ materially from those in the forward- looking statements as a result of any number of factors. These factors include, but are not limited to, risks relating to the company’s ability to advance the development of products currently in the pipeline or in clinical trials; maintain the human and financial resources to commercialize current products and bring to market products in development; obtain regulatory approval for its products in the U.S., Europe or other markets; successfully develop, manufacture and market its products; realize future sales growth for its biopharmaceutical products; secure patent positions and prevail in patent litigation; raise additional capital on acceptable terms; and re-pay its outstanding convertible senior notes when due. Many of these factors are more fully discussed, as are other factors, in the company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2005 filed with the Securities and Exchange Commission.
About Nabi Biopharmaceuticals
Nabi Biopharmaceuticals leverages its experience and knowledge in powering the immune system to develop and market products that fight serious medical conditions. The company has three products on the market today: PhosLo(R) (calcium acetate), Nabi-HB(R) [Hepatitis B Immune Globulin (Human)], and Aloprim(TM) (allopurinol sodium) for Injection. Nabi Biopharmaceuticals is focused on developing products that address unmet medical needs and offer commercial opportunities in our core business areas: Gram-positive bacterial infections, hepatitis and transplant, kidney disease (nephrology) and nicotine addiction. For a complete list of pipeline products, please go to: http://www.nabi.com/pipeline/index.php . The company is headquartered in Boca Raton, Florida. For additional information about Nabi Biopharmaceuticals, please visit our website: http://www.nabi.com .
Nabi Biopharmaceuticals
CONTACT: Thomas E. Rathjen, Vice President, Investor Relations, NabiBiopharmaceuticals, +1-561-989-5800
