PDL BioPharma (PDL) pioneered the humanization of monoclonal antibodies and, by doing so, enabled the discovery of a new generation of targeted treatments for cancer and immunologic diseases.
Our primary assets are our antibody humanization patents and royalty assets which consist of our Queen et al patents and license agreements with numerous biotechnology and pharmaceutical companies pursuant to which we have licensed certain rights under our Queen et al patents.
PDL is focused on maximizing the value of our antibody humanization patents and related assets. We receive royalties on sales of a number of humanized antibody products marketed today, and also may receive royalty payments on additional humanized antibody products launched before patent expiry in late 2014. The company intends to distribute these antibody humanization royalty revenues, net of any operating expenses, debt service and income taxes, to our stockholders. Under the right conditions, and at the right time, PDL will explore a monetization transaction when market conditions warrant.