On December 19, 2019, PDL BioPharma, Inc. (the Company) issued a press release announcing the retirement of Dr. Harold E. Selick from the Company’s board of directors and the decision of Paul Sandman to not stand for re-election at the Company’s 2020 annual meeting of stockholders, and related reductions in the size of the Company\’s board of directors. The Company also announced that Elizabeth O’Farrell would replace Dr. Selick as the chairperson of the board of directors.

Item 9.01 Financial Statements and Exhibits.

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PDL BIOPHARMA, INC. Exhibit
EX-99.1 2 pdli-201912198xkex991.htm PRESS RELEASE Exhibit Exhibit 99.1PDL BioPharma Announces Upcoming Changes to its Board of DirectorsDirector Elizabeth O’Farrell Named Chairperson of the Board Chairperson Dr. Harold E. Selick to Retire from Board by Year-End Director Paul Sandman to Retire at 2020 Annual MeetingBoard to be Reduced to Six Directors Following 2020 Annual MeetingINCLINE VILLAGE,…
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About PDL BioPharma, Inc. (NASDAQ:PDLI)

PDL BioPharma, Inc., formerly Protein Design Labs, Inc., manages a portfolio of patents and royalty assets, consisting of its Queen et al. patents, license agreements with various biotechnology and pharmaceutical companies, and royalty and other assets acquired. The Company provides non-dilutive growth capital and financing solutions to late-stage public and private healthcare companies and offers immediate financial monetization of royalty streams to companies, academic institutions and inventors. It evaluates its investments based on the quality of the income generating assets and potential returns on investment. It is focused on intellectual property asset management, acquiring income generating assets and maximizing value for its stockholders, among others. It receives royalties on sales of over ten humanized antibody products, which include Avastin, Herceptin, Xolair, Kadcyla, Tysabri, Actemra, Gazyva and Entyvio all of which are approved for use.