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PDL BioPharma Appoints Karen J. Wilson as Vice President, Finance and Principal Accounting Officer

- Company Updates Board of Directors Audit Committee Members and Complies with Nasdaq Rule -

INCLINE VILLAGE, Nev., April 29 /PRNewswire-FirstCall/ -- PDL BioPharma, Inc. (PDL) (Nasdaq: PDLI) today announced that its board of directors has appointed Karen J. Wilson as vice president of finance and principal accounting officer.

"We are pleased to have Karen join our team. She brings over twenty years of finance and accounting experience to PDL with specific expertise with life science companies," said John McLaughlin, president and chief executive officer of PDL BioPharma.

Most recently, from 2005 to 2009, Ms. Wilson served as a principal at the consulting firm Wilson Crisler LLC. Previously, from 2001 to 2004, she was chief financial officer of ViroLogic, Inc. (now Monogram Biosciences, Inc.), a life science company focused on developing and commercializing innovative products to help guide and improve the treatment of infectious diseases, cancer and other serious diseases.

Prior to joining ViroLogic, Ms. Wilson served as chief financial officer and vice president of operations for Novare Surgical Systems, Inc., a medical device manufacturer, from 1999 to 2001. Early in her career, Ms. Wilson worked for Deloitte & Touche LLP, a professional services firm, most recently as senior manager serving a diverse list of global clients in both the medical and technology fields. Wilson is a certified public accountant and received a B.S. in Business from the University of California at Berkeley.

Audit Committee

Additionally, the company announced the new composition of its audit committee. The membership of the committee complies with Nasdaq's audit committee requirements as set forth in Marketplace Rule 4350, which requires PDL to have an audit committee composed of at least three independent directors. Jody Lindell, president and chief executive officer of S.G. Management, Inc., will serve as audit committee chair and its financial expert. She is a certified public accountant and formerly served as a director and on the audit and director's loan committees for First Republic Bank, which was a publicly traded financial institution that has since been acquired. Ms. Lindell continues to serve on the advisory board and advisor's loan committee for First Republic. She has also served as a director and member of the audit and organization and compensation committees of The Cooper Companies since March 2006.

Other audit committee members include independent directors Frederick Frank, vice chairman of the Peter J. Solomon Company, and former vice chairman of Barclays Capital and Lehman Brothers before its acquisition by Barclays Capital; and Paul Sandman, former general counsel of Boston Scientific Corporation.

About PDL BioPharma, Inc.

PDL BioPharma was a pioneer in the humanization of monoclonal antibodies and, by doing so, enabled the discovery of a new generation of targeted treatments for cancer and immunologic diseases. PDL is focused on maximizing the value of its antibody humanization patents and related assets. The company receives 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. For more information, please visit

NOTE: PDL BioPharma and the PDL BioPharma logo are considered trademarks of PDL BioPharma, Inc.

SOURCE PDL BioPharma, Inc.
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