Nabi Biopharma Earns Fresenius Milestone

Nabi Biopharmaceuticals has received a $5 million payment from Fresenius USA Manufacturing, Inc. related to the first commercial sale of Phoslyra, a milestone under an agreement for 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.

Nabi is eligible to receive a $2.5 million milestone for the approval of a new indication for PhosLo along with approximately $65 million in potential sales-based royalty payments. Under the 2006 agreement, Nabi is eligible to collect Phoslyra royalties until November 2016.

“We are pleased that this milestone has been achieved and hope that it will unlock the significant remaining value of our potential PhosLo revenue stream,” said Dr. Raafat Fahim, president and chief executive officer of Nabi Biopharmaceuticals. “Since closing the sale in 2006, we have successfully achieved five of the six milestones under the sale agreement. We look forward to receiving additional potential PhosLo revenues.”