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PDL Biopharma, Inc.
PDL BioPharma Retains Franklin Berger and Dr. Evan Bedil as Advisors to Assist with Implementation of Royalty Acquisition Strategy.
10/19/2011
INCLINE VILLAGE, Nev., Oct. 19, 2011 /PRNewswire/ -- PDL BioPharma, Inc. (PDL) (NASDAQ:PDLI - News) today announced that it has retained Franklin M. Berger, C.F.A., and Evan Bedil, M.D., as advisors to the Company to assist with the identification and evaluation of royalty bearing asset acquisition opportunities.
(Logo: http://photos.prnewswire.com/prnh/20110822/SF55808LOGO)
"We are very pleased to be working with such talented individuals as Franklin and Evan as we pursue new business development opportunities and implementation of our strategy to acquire new royalty bearing assets," stated John McLaughlin, president and chief executive officer of PDL. "The acquisition of additional royalty assets is a high priority for us as we believe that this will continue to increase value for our shareholders."
Mr. Berger brings 25 years of biotechnology industry experience to PDL. He has held senior positions with investment banks, asset management firms and as an advisor/board member to biotechnology companies. In 2003, Mr. Berger started a strategic advisor practice serving biopharmaceutical and specialty pharmaceutical companies focusing on business development, mergers and acquisitions, and financial strategy. Mr. Berger was a senior portfolio manager at the Swiss-Canadian firm Sectoral Asset Management with responsibility for the small-cap NEMO Fund. Mr. Berger also spent 12 years as a sell-side analyst most recently as managing director, equity research and senior biotechnology analyst at J.P. Morgan Securities from 1998 to 2003. He holds an M.B.A. from the Harvard Graduate School of Business Administration and an M.A. in International Economics and a B.A. in International Relations from Johns Hopkins University. Mr. Berger currently serves as a director of Seattle Genetics, Inc. and Thallion Pharmaceuticals Inc., both publicly-traded companies, as well as Five Prime Therapeutics, Inc. and iTherX, Inc. which are privately held companies.
Dr. Bedil has spent more than 15 years in the practice of clinical medicine, investment research and business development. Most recently he has focused on commercial assessments and valuation of biotechnology and pharmaceutical products, in-licensing opportunities, and equity and debt investments in the biopharmaceutical sector. For the last seven years, Dr. Bedil has worked with Defined Health, LLC as a business development consultant, and Moulton Point Capital, LLC, and Marathon Asset Management, LP as a senior healthcare analyst. At Marathon, he successfully implemented and led a drug royalty acquisition strategy. Prior to Marathon, he spent two years at Morgan Stanley in biotechnology equity research. Dr. Bedil holds an M.B.A. from the Ross School of Business at the University of Michigan and earned his M.D. (MBBCH) from the University of the Witwatersrand Medical School in Johannesburg, South Africa.
About 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. Today, PDL is focused on intellectual property asset management, investing in new royalty bearing assets and maximizing the value of its patent portfolio and related assets. For more information, please visit www.pdl.com.
NOTE: PDL BioPharma and the PDL BioPharma logo are considered trademarks of PDL BioPharma, Inc.
10/19/2011
INCLINE VILLAGE, Nev., Oct. 19, 2011 /PRNewswire/ -- PDL BioPharma, Inc. (PDL) (NASDAQ:PDLI - News) today announced that it has retained Franklin M. Berger, C.F.A., and Evan Bedil, M.D., as advisors to the Company to assist with the identification and evaluation of royalty bearing asset acquisition opportunities.
(Logo: http://photos.prnewswire.com/prnh/20110822/SF55808LOGO)
"We are very pleased to be working with such talented individuals as Franklin and Evan as we pursue new business development opportunities and implementation of our strategy to acquire new royalty bearing assets," stated John McLaughlin, president and chief executive officer of PDL. "The acquisition of additional royalty assets is a high priority for us as we believe that this will continue to increase value for our shareholders."
Mr. Berger brings 25 years of biotechnology industry experience to PDL. He has held senior positions with investment banks, asset management firms and as an advisor/board member to biotechnology companies. In 2003, Mr. Berger started a strategic advisor practice serving biopharmaceutical and specialty pharmaceutical companies focusing on business development, mergers and acquisitions, and financial strategy. Mr. Berger was a senior portfolio manager at the Swiss-Canadian firm Sectoral Asset Management with responsibility for the small-cap NEMO Fund. Mr. Berger also spent 12 years as a sell-side analyst most recently as managing director, equity research and senior biotechnology analyst at J.P. Morgan Securities from 1998 to 2003. He holds an M.B.A. from the Harvard Graduate School of Business Administration and an M.A. in International Economics and a B.A. in International Relations from Johns Hopkins University. Mr. Berger currently serves as a director of Seattle Genetics, Inc. and Thallion Pharmaceuticals Inc., both publicly-traded companies, as well as Five Prime Therapeutics, Inc. and iTherX, Inc. which are privately held companies.
Dr. Bedil has spent more than 15 years in the practice of clinical medicine, investment research and business development. Most recently he has focused on commercial assessments and valuation of biotechnology and pharmaceutical products, in-licensing opportunities, and equity and debt investments in the biopharmaceutical sector. For the last seven years, Dr. Bedil has worked with Defined Health, LLC as a business development consultant, and Moulton Point Capital, LLC, and Marathon Asset Management, LP as a senior healthcare analyst. At Marathon, he successfully implemented and led a drug royalty acquisition strategy. Prior to Marathon, he spent two years at Morgan Stanley in biotechnology equity research. Dr. Bedil holds an M.B.A. from the Ross School of Business at the University of Michigan and earned his M.D. (MBBCH) from the University of the Witwatersrand Medical School in Johannesburg, South Africa.
About 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. Today, PDL is focused on intellectual property asset management, investing in new royalty bearing assets and maximizing the value of its patent portfolio and related assets. For more information, please visit www.pdl.com.
NOTE: PDL BioPharma and the PDL BioPharma logo are considered trademarks of PDL BioPharma, Inc.
PDL BioPharma Retains Franklin Berger and Dr. Evan Bedil as Advisors to Assist with Implementation of Royalty Acquisition Strategy