PDL BioPharma, Inc. Presents Data on Novel Monoclonal Antibody for Multiple Myeloma at the 2007 American Society of Hematology Annual Meeting

REDWOOD CITY, CA--(Marketwire - December 10, 2007) - PDL BioPharma, Inc. (NASDAQ: PDLI) announced that clinical and preclinical data on HuLuc63 were presented at the 48th Annual Meeting of the American Society of Hematology (ASH) taking place from December 8 to 11 in Atlanta, Georgia. HuLuc63 is a humanized monoclonal antibody that binds to human CS1, a cell-surface glycoprotein that is highly expressed on multiple myeloma cells but minimally expressed on normal cells. The antibody is currently being evaluated in a phase 1 clinical study as a monotherapy for the treatment of relapsed/refractory multiple myeloma.

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