MELBOURNE, AUSTRALIA--(Marketwire -08/09/12)- Biota Holdings Limited (BTA.AX) today announced that the Supreme Court of Victoria has ordered a meeting ("Scheme Meeting") of Biota shareholders to consider and vote on the previously announced scheme of arrangement ("Scheme") to form Biota Pharmaceuticals listed on NASDAQ by the merger of Biota with Nabi Biopharmaceuticals.
The Board of Biota unanimously recommends that Biota shareholders vote in favour of the Scheme at the Scheme Meeting, in the absence of a superior proposal. Subject to the same qualification, each Director of Biota intends to vote all the Biota shares held or controlled by them in favour of the Scheme at the meeting of Biota shareholders.
The Scheme Meeting is to be held on Tuesday, 25 September 2012 in Meeting Rooms 109 & 110, at The Melbourne Convention Centre, 1 Convention Centre Place, South Wharf, Melbourne, Australia, commencing at 2.00pm.
Information relating to the Scheme, including the notice convening the Scheme Meeting and an independent expert's report, will be included in a Scheme Booklet expected to be sent to Biota shareholders following registration of the Booklet with the Australian Securities and Investments Commission ("ASIC").
A further announcement containing the Scheme Booklet will be released immediately following its ASIC registration.
Nabi filed its definitive Proxy Statement with the Securities and Exchange Commission ("SEC") on 7 August 2012. The definitive Proxy Statement is available on the SEC website at www.sec.gov. Nabi intends to print and mail the definitive Proxy Statement to its shareholders over the next few days.
Biota is a leading anti-infective drug development company based in Melbourne Australia, with key expertise in respiratory diseases, particularly influenza. Biota developed the first-in-class neuraminidase inhibitor, zanamivir, subsequently marketed by GlaxoSmithKline as Relenza. Biota research breakthroughs include a series of candidate drugs aimed at treatment of respiratory syncytial virus (RSV) disease and Hepatitis C (HCV) virus infections. Biota has a well advanced program for human rhinovirus (HRV) infection with a completed Phase IIb study in asthmatic subjects.
In addition, Biota and Daiichi Sankyo co-own a range of second generation influenza antivirals, of which the lead product lnavir®, is marketed in Japan. Biota holds a contract from the US Office of Biomedical Advanced Research and Development Authority (BARDA) for the advanced development of laninamivir in the USA.
Relenza™ is a registered trademark of the GlaxoSmithKline group of companies. Inavir® is registered to Daiichi Sankyo.