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Clinical Data on Volociximab (M200) Presented at the American Society of Clinical Oncology Annual Meeting

    - Interim Results Presented for Three Phase 2 Clinical Trials of an
Anti-angiogenesis Antibody in Kidney Cancer, Pancreatic Cancer and Melanoma
                                     -

    FREMONT, Calif. and CAMBRIDGE, Mass., June 6 /PRNewswire-FirstCall/ --
PDL BioPharma, Inc. (PDL) (Nasdaq: PDLI) and Biogen Idec (Nasdaq: BIIB)
announced today that new data on volociximab (M200), a novel,
anti-angiogenic, chimeric antibody directed at alpha5-beta1 integrin, were
presented at the 2006 American Society of Clinical Oncology (ASCO) meeting,
taking place from June 2 to 6 in Atlanta, Ga. Volociximab is being
co-developed by PDL BioPharma and Biogen Idec. Interim results were
presented from three, Phase 2, open-label clinical trials of volociximab
10mg/kg administered intravenously every two weeks as either a single agent
or in combination with chemotherapy as part of the treatment regimens for
metastatic renal cell carcinoma, adenocarcinoma of the pancreas and
melanoma.
    Volociximab is a chimeric monoclonal antibody that blocks the
alpha5-beta1 receptor and halts the proliferation of endothelial cells that
lead to angiogenesis, the formation of new blood vessels that feed a tumor,
allowing the cancerous tumor to grow and metastasize.
    "Based on its proposed mechanism of action, volociximab may inhibit
tumor angiogenesis regardless of the pro-angiogenic growth factors that
promote tumor growth," said Robert A. Figlin, M.D., Professor of Medicine
and Urology at the David Geffen School of Medicine at the University of
California, Los Angeles. "This could potentially improve the clinical
outcome of patients with different types of advanced cancers that may be
fueled by a variety of angiogenic stimuli."
    "We are encouraged by the early signs of tolerability suggested by
these exploratory trials," said Steven Benner, M.D., Senior Vice President
and Chief Medical Officer, PDL. "We look forward to advancing the
volociximab clinical development program with our partner, Biogen Idec,
with additional Phase 2 studies of volociximab at higher doses, including
an early trial in patients with melanoma to further characterize tumor
expression of alpha5-beta1."
    In the poster presentation titled, "Phase II study of volociximab
(M200), an alpha5-beta1 anti-integrin antibody in refractory metastatic
clear cell renal cell cancer (RCC)" [Abstract 4535 -- Saturday, June 3], a
total of 40 patients, 21 (53%) of whom received two or more prior
therapies, including anti-angiogenic therapies, were evaluated for safety
and measured for objective responses. Volociximab was administered as a
single agent in this study. One of 40 patients (3%) achieved a partial
response (PR) and 32 of 40 patients (80%) achieved stable disease (SD).
Median time to disease progression was 3.8 months (113 days). An estimate
of overall survival (OS) had not been reached at a median follow up of 11.2
months (335 days). No detectable immune responses to volociximab and no
changes in hematological, renal and hepatic parameters were noted.
    In patients evaluated to date in this study, volociximab appears to be
well tolerated. The most frequently reported adverse events (AE),
regardless of relationship to study drug, were fatigue (25 patients; 63%),
nausea (13 patients; 33%), dyspnea or shortness of breath (7 patients;
18%), pain in the extremities (7 patients; 18%), arthralgia (6 patients;
15%) and headache (6 patients; 15%).
    In the poster presentation titled, "Phase II study of volociximab
(M200), an alpha5-beta1 anti-integrin antibody in metastatic adenocarcinoma
of the pancreas (MPC)" [Abstract 4111 -- Saturday, June 3], volociximab was
administered in combination with standard doses of gemcitabine (Gemzar(R);
Eli Lilly and Co.). One of 19 efficacy-evaluable patients (5%) achieved a
PR and 10 of 19 patients (53%) achieved SD. Median time to disease
progression was 4.0 months (121 days) and the median OS was 5.1 months (152
days).
    In patients evaluated to date in this study, volociximab appears to be
well tolerated. The most frequently reported AEs, regardless of
relationship to study drug, were nausea (13 patients; 65%), vomiting (12
patients; 60%), constipation (10 patients; 50%), lethargy (9 patients;
45%), diarrhea (8 patients; 40%), peripheral edema (7 patients; 35%),
influenza-like illness (6 patients; 30%) and pyrexia (6 patients; 30%). In
addition, upper abdominal pain, anorexia and fatigue were each reported in
5 patients (25%), and abdominal pain, dyspepsia and headache were each
reported in 4 patients (20%). Anemia, chills, dehydration, dyspnea,
myalgia, neutropenia, rash and decreased weight were each reported in 3
patients (15%).
    The poster presentation titled "Phase II study of volociximab (M200),
an alpha5-beta1 anti-integrin antibody in metastatic melanoma" [Abstract
8011] showed that of 37 efficacy-evaluable patients who received a
combination of volociximab and dacarbazine, one patient (3%) achieved a PR
and 22 patients (60%) achieved SD. Median time to disease progression was
2.4 months (72 days) and the median OS was 8.0 months (237 days).
    In patients evaluated to date in this study, volociximab appears to be
well tolerated. The most frequently reported AEs, regardless of
relationship to study drug, were nausea (20 patients; 50%), fatigue (17
patients; 43%), injection site reaction (12 patients; 30%), vomiting (12
patients; 30%), constipation (11 patients; 28%), arthralgia (8 patients;
20%) and diarrhea (8 patients; 20%). Pain in the extremities and pyrexia
were each reported in 7 patients (18%) and anorexia and peripheral edema
were each reported in 6 patients (15%).
    About PDL BioPharma
    PDL BioPharma, Inc. is a biopharmaceutical company focused on
discovering, developing and commercializing innovative therapies for severe
or life-threatening illnesses. The company currently markets and sells a
portfolio of leading products in the acute-care hospital setting in the
United States and Canada and generates royalties through licensing
agreements with top-tier biotechnology and pharmaceutical companies based
on its pioneering antibody humanization technology. Currently, PDL
BioPharma's diverse late-stage product pipeline includes six
investigational compounds in Phase 2 or Phase 3 clinical development for
hepatorenal syndrome, autoimmune and inflammatory diseases, cardiovascular
disorders and cancer. Further information on PDL BioPharma is available at
http://www.pdl.com.
    About Biogen Idec
    Biogen Idec creates new standards of care in oncology, neurology and
immunology. As a global leader in the development, manufacturing, and
commercialization of novel therapies, Biogen Idec transforms scientific
discoveries into advances in human healthcare. For product labeling, press
releases and additional information about the company, please visit
http://www.biogenidec.com.
    Forward-looking Statement
    The information in this press release should be considered accurate
only as of the date of the release. Neither PDL nor Biogen Idec has any
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 may contain "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. In particular, results obtained in the Phase 2 studies may
not be predictive of results to be obtained in the additional evaluations
that would be necessary to demonstrate volociximab to be safe and effective
in the treatment of metastatic clear cell renal cell cancer, metastatic
adenocarcinoma of the pancreas or metastatic melanoma, nor can there be
assurance that PDL or Biogen Idec will initiate subsequent clinical trials
of volociximab. For further information regarding factors, risks and
uncertainties that may cause such differences, please refer to the filings
PDL and Biogen Idec have made with the Securities and Exchange Commission,
including the "Risk Factors" sections of PDL's and Biogen Idec's Quarterly
and Annual Reports, copies of which may be obtained at the "Investors"
section on PDL's website at http://www.pdl.com, with respect to PDL's filings, and
at http://www.biogenidec.com, with respect to Biogen Idec's filings. All
forward-looking statements in this press release are qualified in their
entirety by this cautionary statement.
    NOTE: PDL BioPharma and the PDL BioPharma logo are considered
trademarks of PDL BioPharma, Inc. Biogen Idec is considered a trademark of
Biogen Idec. Gemzar(R) is a registered trademark of Eli Lilly & Co.


SOURCE PDL BioPharma, Inc.




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    CONTACT:
    Jean Suzuki, Product Communications,
    +1-510-574-1550, or Jean.Suzuki@pdl.com, or Jim Goff, Investor
    Relations, +1-510-574-1421, or James.Goff@pdl.com, both of PDL
    BioPharma; or media, Amy Ryan, Director, Public Affairs,
    +1-617-914-6524, or investors, Elizabeth Woo, Vice President,
    Investor Relations, +1-617-679-2822, both of Biogen Idec