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Nabi Biopharmaceuticals Acquires Worldwide Rights To PhosLo(R) From Braintree Laboratories, Inc. BOCA RATON, Fla., June 23 /PRNewswire-FirstCall/ -- Nabi Biopharmaceuticals (Nasdaq: NABI) today announced that it has signed an agreement to acquire the worldwide rights to PhosLo(R) (Calcium Acetate) which is currently approved for the control of elevated phosphate levels (hyperphosphatemia) in patients with end-stage renal (kidney) failure, from Braintree Laboratories, Inc. The agreement is anticipated to close on August 4, 2003, subject to the satisfaction of closing conditions. Under the terms of the agreement, the company will acquire the rights to PhosLo for payment of $60 million cash at closing, an obligation to pay $30 million cash over the period ending March 2007 and issuance of 1.5 million shares of common stock. The purchase price also reflects the value added by the June 10, 2003 issuance of a U.S. patent on a new gelcap formulation of the product. Braintree Laboratories will continue to manufacture the product for Nabi Biopharmaceuticals under a long-term manufacturing agreement. PhosLo is used to treat end-stage renal failure patients who are suffering from hyperphosphatemia, a potentially life-threatening condition. The largest segment addressed by this product are those end-stage renal disease (ESRD) patients undergoing chronic renal dialysis, both hemodialysis and peritoneal dialysis patients. According to the U.S. Renal Data System, there were approximately 275,000 Americans that met the criteria of chronic renal dialysis in 2000 and that population is expected to experience double-digit growth through the decade. This strong growth is being driven by dramatic increases in the diabetic patient population, general aging and a slowing in the death rate for dialysis patients. For the twelve month-period ending December 2002, net sales of PhosLo were approximately $14 million. On an end- user, or patient demand basis, sales for 2002 were approximately $

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