Nabi Biopharmaceuticals (NDAQ:NABI) announced today that it has agreed to sell its Nabi Biologics division for German drugmaker Biotest AG for $185 million, according to an 8-K filing with the SEC. The move marks a successful start to the company's strategic alternatives process initiated from activist investor Robert Chapman's Chapman Capital.

"This agreement definitively puts us on the final path to a successful outcome of our strategic alternatives process," said Dr. Leslie Hudson, Interim President and Chief Executive Officer of Nabi. "We feel this transaction not only will realize value for Nabi shareholders but also will allow us to build on the promise of our Pharmaceuticals SBU pipeline."

Once the sale is complete, Nabi will begin its new life in Rockville, Md. and continue to seek a partner to commercialize its nicotine and Staphylococcus aureus vaccines, the lead products remaining in its pipeline. Chapman and other large investors have yet to respond to the buyout offer.

In the end this sale priced at roughly $3.03/share could cause problems for Chapman, who previously stated that the company could get $5/share for the unit. However, the cash infusion is certainly good news for shareholders as it provides the company with capital and allows them to increase their focus on developing their remaining pipeline and finding a commercial partner. Combined, these factors make NABI a stock worth watching!

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