Nabi Biopharmaceuticals has executed a definitive agreement to sell its Aloprim for Injection product to Bioniche Teoranta for $3.7 million. Bioniche Teoranta is based in Ireland and is part of Bioniche Pharma Group. The transaction, subject to customary closing conditions, is expected to close during the second quarter.

“When we recently announced our intent to form two strategic business units, Nabi Biologics and Nabi Pharmaceuticals, we determined Aloprim was no longer a strategic component of our product portfolio,” said Dr. Leslie Hudson, interim president and chief executive officer of Nabi. “This sale marks another step for Nabi toward the realization of our strategic plan.”