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PDL BioPharma Appoints Glenn Reicin as Senior Advisor
Date:6/25/2013

INCLINE VILLAGE, Nev., June 25, 2013 /PRNewswire/ -- PDL BioPharma, Inc. (PDL) (NASDAQ: PDLI) today announced that the Company has appointed Glenn M. Reicin as senior advisor to the company, effective as of July 1st.  PDL is focused on acquiring income generating assets to continue increasing shareholder value, and Mr. Reicin will focus on bolstering these activities.  He brings many years of experience in the medical device space, 15 years of which were spent as a ranked, medical device analyst at Morgan Stanley.

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"We are pleased to have Glenn join our leadership team and believe that his depth of experience and extensive network in the medical device space will be invaluable as we evaluate opportunities that would bring additional value to PDL," stated John P. McLaughlin, president and chief executive officer of PDL.  "We have completed four significant transactions over the past year and are actively evaluating additional opportunities in order to continue this momentum in the year ahead."

"I am excited to join the team at PDL during a time of such solid momentum for the company," When looking at the state of the venture capital industry, I think that PDL has an important role to fill in funding the continued growth of the medical device industry and I am looking forward to applying my expertise in the area," stated Mr. Reicin.  "I see tremendous opportunity in both the medical device space as well as in the lending of non-dilutive capital to commercial stage companies with novel products and look forward to assisting the team in bringing some of these opportunities to fruition."

Mr. Reicin has most rec
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SOURCE PDL BioPharma, Inc.
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