proposed new ceo is, page-2

http://www.marketwatch.com/story/biota-in-advanced-discussions-with-russell-h-plumb-to-assume-role-of-president-and-ceo-of-biota-pharmaceuticals-inc-2012-09-06?reflink=MW_news_stmp


ROCKVILLE, Md. and MELBOURNE, Australia, Sep 6, 2012 (GlobeNewswire via COMTEX) -- Nabi Biopharmaceuticals (nadsaq:NABI) today announced that Biota Holdings Limited (asx:BTA.AX) has entered into advanced discussions with Russell H. Plumb, the former President and Chief Executive Officer of Inhibitex, Inc., with a view to agreeing on the terms and conditions for the appointment of Mr. Plumb as the President and Chief Executive Officer of Biota Pharmaceuticals, Inc., the combined company upon the successful completion of the proposed business combination transaction between Biota and Nabi. It is also expected that Mr. Plumb will be appointed as a director of Biota Pharmaceuticals, Inc.

Mr. Plumb served as President, Chief Executive Officer and Chief Financial Officer of Inhibitex, Inc., a U.S. publicly-traded, clinical-stage drug development company, from December 2006 through February 2012, when it was acquired by Bristol-Myers Squibb for approximately $2.5 billion. Prior to its acquisition, Inhibitex focused its resources in recent years on developing antiviral, small molecules, including compounds to treat hepatitis C virus (HCV). From 2000 to December 2006, Mr. Plumb was the Chief Financial Officer of Inhibitex, during which time he oversaw numerous financing transactions, including the company's initial public offering in 2004.

The terms, conditions and timing of Mr. Plumb's potential employment with Biota Pharmaceuticals, Inc. are under discussion and have not been finalized, as the proposed business combination transaction between Biota and Nabi is subject to certain conditions, including, among other things, the approval by the shareholders of both Biota and Nabi at their respective shareholder meetings. The shareholder meetings of both Nabi and Biota to consider the business combination transaction are scheduled to be held later in September.