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Nabi starts vaccine trial

By Palm Beach Post Staff Reports
Tuesday, June 24, 2003
 

BOCA RATON -- Nabi Biopharmaceuticals Inc. said it has started the latest clinical trial of its proposed StaphVAX drug, a vaccine intended to prevent staph infections.

The trial includes 40 healthy volunteers. NABI will evaluate their antibody response to StaphVAX for 28 days, the company said last week.

NABI (Nasdaq: NABI, $6.83) plans another StaphVAX test later this year as part of its effort to gain Food and Drug Administration approval to sell the drug. Staph is a common infection among surgical patients, trauma or burn victims and people with such chronic illnesses as diabetes, cancer or lung or kidney diseases.

First Choice opens in Royal Palm

WEST PALM BEACH -- First Choice Credit Union this month opened a branch at 11957 Southern Blvd. in Royal Palm Beach, the institution's fourth office.

West Palm Beach-based First Choice, which has deposits of $79 million, was founded to serve federal employees, but it is now open to anyone who lives or works in Palm Beach County.

Proposed insurance suit dismissed

TALLAHASSEE -- A Leon County judge dismissed a proposed class-action suit that accused Florida insurance regulators of failing to protect the public from a scam that defrauded 3,000 people of more than $100 million.

James and Patricia Zetler of Jupiter, John Bandre of Delray Beach and a Clearwater woman last year sued the Florida Department of Insurance. The four lost $168,701 of the $310,000 they invested in a "viaticals" life insurance scheme run by American Benefits Services of Lake Worth and Financial Federated Title & Trust of Broward County.

The former heads of the two companies are serving federal prison terms. The four investors said state regulators knew the companies were scams but allowed them to continue raising money. An attorney for the investors said he has appealed to the First District Court of Appeals in Tallahassee.

Jacuzzi expecting bottom-line loss

WEST PALM BEACH -- Jacuzzi Brands Inc. (NYSE: JJZ, $5.10) continues to expect a bottom-line loss of $3.6 million to $13.6 million, and income from continuing operations of about $35 million, or 46 cents a share, on sales of about $1.2 billion for its fiscal year ending June 30.

On Friday, the company said it expects to report a loss for the year of about $8.6 million. In a press release Monday, Jacuzzi Brands said it now expects a bottom-line loss for the year at the "upper end" of its range. A company spokeswoman couldn't immediately elaborate on whether the "upper end" referred to a narrower loss of $3.6 million or a wider loss of $13.6 million for the year.

Also last week, the company said its year estimate includes $9 million in restructuring and impairment charges due to relocation of headquarters to West Palm Beach from Walnut Creek, Calif.

Daleen reports Allegiance payment

BOCA RATON -- Daleen Technologies Inc. (OTC-BB: DALN, 14 cents) said Monday that it has received payment from one of its customers for a portion of the services it has provided, according to a document filed with the U.S. Securities and Exchange Commission.

Dallas-based Allegiance Telecom Inc. received the services before it filed for Chapter 11 bankruptcy protection on May 14.

Daleen sells billing-software services to other companies.

AMI signs with Hispanic agency

BOCA RATON -- Magazine publisher American Media Inc. said Monday it had signed agreements to pursue publishing opportunities with a Hispanic talent agency, Latin World Entertainment, and Univision TV star Raul de Molina.

AMI plans to co-produce magazines and books with Latin World Publications. The agreement will enable AMI to cater to the nation's growing Hispanic market by "opening new doors" with Latino celebrities, AMI chief David Pecker said in a statement.

The first project will be a gossip-style magazine edited by de Molina, co-host of a celebrity-oriented show called El Gordo y la Flaca. A launch date was not specified.

AMI also operates Latino Magazine Group, which consists of Spanish-language celebrity magazine Mira! as well as the forthcoming Shape En Espanol and Men's Fitness En Espanol.

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