PDL BioPharma could spin off biotech operations by mid-December

By Lisa Kerner

Charlotte, N.C., Nov. 6 - PDL BioPharma, Inc. said it plans to complete the spinoff of its biotechnology operations from its antibody humanization royalty assets in mid-December.

The company is finalizing the form 10 registration statement initially filed in August with the Securities and Exchange Commission by the spinoff company, Facet Biotech Corp., according to a PDL news release.

PDL, a Redwood City, Calif., biopharmaceutical company, said it plans to relocate its corporate headquarters and ongoing business operations to a new location outside California following the spinoff.

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