DellaCamera makes recommendations to new Nabi CEO

By Lisa Kerner

Charlotte, N.C., Jan. 31 - Investors led by DellaCamera Capital Master Fund, Ltd. congratulated Dr. Raafat E.F. Fahim on being named president and chief executive officer of Nabi Biopharmaceuticals.

DellaCamera, with a 5.1% ownership interest in the company, also complimented Nabi's board on the "prudent" and "well-informed" steps it has taken to reposition the company.

While the investor is encouraged by Nabi's plan to explore strategic alternatives, including a sale of the company, it called on the board to consider additional methods to return capital to shareholders.

DellaCamera suggests the payment of a special dividend or a "substantial" Dutch tender if the review process fails to result in a transaction that is neither a sale nor a merger.

In addition, DellaCamera believes Nabi should be able to derive value from its NicVAX program, according to a schedule 13D filing with the Securities and Exchange Commission.

DellaCamera and the additional reporting persons beneficially own 3,124,560 shares, or 5.1%, of the Boca Raton, Fla., pharmaceutical company.

On Jan. 22, Nabi announced it would explore strategic alternatives with the assistance of Banc of America Securities LLC.

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