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PDL BioPharma Takes Itself off the Market and Restructures to Focus on Antibodies
PDL BioPharma, Inc. (Redwood City, CA) announced on March 4, 2008 that it will no longer actively pursue the sale of the company or of its biotechnology discovery and development assets.
PDL BioPharma, Inc. (Redwood City, CA) announced on March 4, 2008 that it will no longer actively pursue the sale of the company or of its biotechnology discovery and development assets. The company will remain independent and focus on the discovery and development of innovative new antibodies for cancer and immunologic diseases.
Moving forward, PDL will focus on advancing its current product portfolio and discovering and developing additional innovative antibodies for cancer and immunologic diseases.
PDL currently has several assets in its pipeline, including three novel antibody products in the clinic and its 2008 IND candidate, daclizumab, for the treatment of multiple sclerosis (MS) and asthma, for which the company has presented positive data from placebo-controlled Phase 2 clinical trials in each indication. PDL is co-developing daclizumab in MS, and M200 in all indications, with Biogen Idec (Cambridge, MA). Volociximab (M200), which is currently in Phase 1/2 studies, is targeted at various solid tumors. The HuLuc63 antibody is under Phase 1 investigation in multiple myeloma. And PDL192 is another antibody with potential in solid tumors for which the company plans to file an IND in the second quarter of this year.
In addition to advancing these product candidates, PDL intends to move a new antibody into the clinic each year.