Pharmaceutical Processing World

  • Home
  • Regulatory
    • Recalls
  • Pharmaceutical Processing
  • Facility
  • Supply Chain
  • Equipment and Materials
  • Contract Manufacturing
  • Resources
    • Voices
  • Advertise
  • SUBSCRIBE

Nabi Biopharmaceuticals Completes Third PentaStaph Milestone

By Pharmaceutical Processing | August 10, 2010

Nabi Biopharmaceuticals announced today that it has successfully completed the technology transfer of program know-how associated with the sale of the PentaStaph(TM) vaccine candidate to GlaxoSmithKline Biologicals S.A. (GSK). As a result of successfully completing this milestone, Nabi is eligible to receive $8 million under the agreement governing Nabi’s sale of PentaStaph(TM) (Pentavalent S.aureus Vaccine) and related assets to GSK.

Nabi sold PentaStaph and related technologies to GSK for a total consideration of $46 million, including $26 million associated with accomplishing four milestone tasks. Including this milestone, Nabi has earned a total of $21 million in PentaStaph milestone payments to date.

The remaining $5 million payment contemplated in the transaction is due upon completion of the Phase I trial that began in December 2009. 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 related pre-clinical program for a vaccine against S.epidermedis and $0.5 million as reimbursement for license fees and clinical materials previously manufactured for use in the Phase I trial.

“We have made tremendous progress in achieving the PentaStaph milestones by completing three of the four milestone tasks in eight short months following the close of this transaction,” said Dr. Raafat Fahim, President and Chief Executive Officer of Nabi Biopharmaceuticals. “We have one remaining milestone task to complete under this agreement before fully realizing the significant value of the PentaStaph asset sale. We expect to accomplish this final milestone within the next 9 months.”

 

 

 

Related Articles Read More >

Great Point Partners logo.
Great Point Partners acquires majority stake in Eutecma to fuel sustainable cold chain growth
Driving success in fast-paced high-tech pharma construction projects
This is a photo of the Fujifilm Diosynth Biotechnologies plant under construction in Holly Springs, North Carolina.
Fujifilm, Regeneron ink $3B U.S. manufacturing agreement
This is the logo of Johnson & Johnson.
J&J breaks ground on $2B manufacturing facility in North Carolina
“ppw
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest news, technologies, and developments in Pharmaceutical Processing.

DeviceTalks Tuesdays

DeviceTalks Tuesdays

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
Pharmaceutical Processing World
  • Subscribe to our E-Newsletter
  • Contact Us
  • About Us
  • R&D World
  • Drug Delivery Business News
  • Drug Discovery & Development
  • DeviceTalks
  • MassDevice
  • Medical Design & Outsourcing
  • MEDICAL TUBING + EXTRUSION
  • Medical Design Sourcing
  • Medtech100 Index
  • R&D 100 Awards

Copyright © 2025 WTWH Media LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media
Privacy Policy | Advertising | About Us

Search Pharmaceutical Processing World

  • Home
  • Regulatory
    • Recalls
  • Pharmaceutical Processing
  • Facility
  • Supply Chain
  • Equipment and Materials
  • Contract Manufacturing
  • Resources
    • Voices
  • Advertise
  • SUBSCRIBE