Healthcare Industry News: Nabi Biopharmaceuticals
News Release - December 4, 2007
Biotest Pharmaceuticals Corporation Announces Management TeamBOCA RATON, Fla., Dec. 4 (HSMN NewsFeed) -- Biotest Pharmaceuticals Corporation, a leading developer of immunology biotherapeutic products, today announced the company's new management team as part of the formal completion of Biotest AG's acquisition of Nabi Pharmaceuticals (Nasdaq: NABI ) and the creation of Biotest Pharmaceuticals. Please see the separate press release, "Biotest Pharmaceuticals Corporation Completes Acquisition of Nabi Biologics Business Unit," December 4, 2007 for more information.
"The team that we have assembled to run Biotest Pharmaceuticals represents leaders from both Biotest AG and Nabi Pharmaceuticals. They are proven professionals and bring to our new company extensive expertise in research, development and business management," said Professor Dr. Gregor Schulz, Chairman of the Management Board of Biotest AG. "We are confident that, led by this team, Biotest Pharmaceuticals will become a U.S. leader in the immunology biotherapeutic field."
Biotest Pharmaceuticals will be led by the following management team:
-- Chief Executive Officer - Rainer Pabst, PhD. Dr. Pabst is a biochemist who previously served as Managing Director of Biotest Pharma GmbH. Prior to that, he served as Vice President, Technical Operations for Bayer Corp. Biological Products, Vice President Industrial Operations at Centeon Pharma GmbH, and Head of Plasma Proteins Production at Behringwerke AG. In his role as CEO, Dr. Pabst will be responsible for the executive leadership and the operational execution of Biotest Pharmaceuticals.
-- Chief Financial Officer - Jordan I. Siegel, CPA, MBA. Mr. Siegel previously served as Senior Vice President, Finance, Chief Financial Officer and Treasurer for Nabi Biopharmaceuticals. Prior to joining Nabi, he served as Vice President of Finance for IVAX Pharmaceuticals, Inc and previously as IVAX's Vice President and Treasurer. In his role as CFO, Mr. Siegel will be responsible for the financial management and reporting of Biotest Pharmaceuticals. To facilitate the transition period for Nabi Biopharmaceuticals, Mr. Siegel also will continue to hold the position of CFO at Nabi through March 2008.
-- Vice President of Project Management - Peter Seith. Mr. Seith previously served as one of the Directors of Project Management for Biotest Pharma GmbH. Prior to that, he was the Director of Quality Assurance at CSL Behring. Mr. Seith will serve a dual role responsible for both project management for Biotest Pharmaceuticals in Boca Raton and Vice President of Corporate Quality Assurance for Biotest Pharma worldwide.
"Biotest Pharmaceuticals draws upon the success and experience of two established leaders in the field of immunology and plasma products -- our parent company, Biotest AG, and Nabi Biopharmaceuticals," said Dr. Rainer Pabst, Chief Executive Officer of Biotest Pharmaceuticals. "With the completion of our acquisition of Nabi's Biologics business, pipeline and key assets, we feel we are founding Biotest Pharmaceuticals with a solid foundation, a high quality workforce, state-of-the-art facilities and a promising pipeline of biotherapeutic products. We look forward to realizing our potential and driving the growth of Biotest Pharmaceuticals as we move forward together."
About Biotest Pharmaceuticals Corporation
Biotest Pharmaceuticals Corporation develops and manufactures pharmaceutical and biotherapeutic products with a specialization in immunology. Biotest Pharmaceuticals will offer the hyperimmunoglobulin Nabi- HB®, a key product used in the prevention of hepatitis B. Biotest Pharmaceuticals also is currently working to develop additional products including a polyvalent immunoglobulin (IVIG, Phase III) and Civacir® (Phase IIb), for the prevention of hepatitis C in liver transplant patients. Biotest Pharmaceuticals was formed in 2007 as part of the Biotest AG acquisition of Nabi Pharmaceuticals' Biologics business unit, including its plasmapheresis centers across the United States. The company employs approximately 500 people in the U.S. Biotest Pharmaceuticals is a subsidiary of Biotest AG, a German-based global provider of plasma proteins that employs approximately 1,750 people worldwide.
About Biotest AG
Biotest AG, Dreieich, Germany, is a company that researches and manufactures pharmaceutical, biotherapeutic and diagnostic products and has specialized in immunology and haematology. In its Pharmaceutical segment, Biotest develops and markets immunoglobulins, clotting factors and albumins based on human blood plasma. These are used for diseases of the immune system or hematopoietic system. In the Biotherapeutic segment, Biotest researches in the clinical development of monoclonal antibodies, including in the indications of rheumatoid arthritis and blood cancer. The Diagnostic segment spans reagents and serology and microbiology systems which are predominantly used in hygiene control, as well as serology, used, for example, in blood transfusions. Biotest has around 1,750 employees worldwide and its shares are listed in the Frankfurt Stock Exchange's Prime Standard.
Source: Biotest Pharmaceuticals
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