FREMONT, Calif., April 24 /PRNewswire-FirstCall/ -- PDL BioPharma, Inc.
(PDL) (Nasdaq: PDLI) announced that the Opposition Division of the European
Patent Office decided today at an oral proceeding to uphold claims in the
company's European Patent No. 0 451 216 ('216 patent) that are virtually
identical to the claims remitted to the Opposition Division by the Board of
Appeal. The patent covers the production of humanized antibody light chains
that contain amino acid substitutions made under PDL's antibody
humanization technology and provides specific coverage for our daclizumab
antibody.
"We are pleased by the Opposition Division's decision today and believe
that the claims as upheld afford us an important level of intellectual
property protection," said Mark McDade, chief executive officer, PDL.
"Today's decision further solidifies the overall strength of our patent
portfolio which, combined with our commercial platform and pipeline assets,
forms the foundation of our future growth."
PDL has fundamental patents in the field of humanized monoclonal
antibodies in the United States and in Europe, as well as additional patent
applications in the United States (U.S.), Europe and Japan. Currently, nine
humanized antibody products are marketed for instance in the U.S. and
Europe and licensed under PDL's humanization patents.
The opponents in this week's proceeding, which took place in Munich,
Germany, have the right to appeal the decision to the Technical Board of
Appeal at the European Patent Office. If any of the opponents appeal, the
'216 patent would continue to be enforceable during the appeal process. The
European Patent Office granted PDL the '216 patent in 1996 and it was
initially opposed shortly thereafter.
Forward-looking Statements
The information in this press release should be considered accurate
only as of the date of this press release. PDL has no intention of updating
and specifically disclaims any duty to update the information in this press
release for any reason, except as required by law, even as new information
becomes available or other events occur in the future. This press release
contains "forward-looking statements" that are based on current
expectations and assumptions that are subject to risks and uncertainties.
The actual results may differ materially from those in the forward-looking
statements because of various factors, risks and uncertainties. For further
information regarding factors, risks and uncertainties that may cause such
differences, please refer to the filings PDL has made with the Securities
and Exchange Commission, including the "Risk Factors" sections of PDL's
Quarterly and Annual Reports, copies of which may be obtained at the
"Investors" section on PDL's website at http://www.pdl.com. All forward-looking
statements in this press release are qualified in their entirety by this
cautionary statement.
About PDL BioPharma
PDL BioPharma, Inc. is a biopharmaceutical company focused on
discovering, developing and commercializing innovative therapies for severe
or life- threatening illnesses. Commercially focused in the acute-care
hospital setting, PDL markets and sells its portfolio of products in the
United States and Canada. A pioneer of antibody humanization technology,
PDL promotes this technology through licensing agreements and clinical
development of its own diverse pipeline of investigational compounds. PDL's
research platform centers on the discovery and development of antibodies to
treat cancer and autoimmune diseases. For more information, please visit
http://www.pdl.com.
NOTE: PDL BioPharma and the PDL BioPharma logo are considered
trademarks of PDL BioPharma, Inc.
SOURCE PDL BioPharma, Inc.
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Related links:
http://www.pdl.com/
CONTACT:
Investor Relations, Jean Suzuki,
+1-510-574-1550, or jean.suzuki@pdl.com, or Corporate
Communications, Kathleen Rinehart, +1-510-574-1480, or
kathleen.rinehart@pdl.com
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