Facet Biotech evaluates investor's nominees for election to board

By Lisa Kerner

Charlotte, N.C., March 31 - Facet Biotech Corp. said its board of directors is evaluating the nomination notice from shareholder Roderick Wong and will respond "in due course."

Shareholders are asked not to take any action at this time, the company said.

Wong plans to nominate himself and four additional candidates for election to the Redwood City, Calif., biotechnology company's five-person board at the company's 2009 annual meeting.

The additional nominees are Philip R. Broenniman, Robert L. Chapman Jr., David Gale and Bradd Gold.

The five nominees collectively beneficially own 124,828 shares, or 0.5%, of Facet, a subsidiary of PDL BioPharma Inc., according to Facet.

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