Company intelligence / Profile preview

Facet Biotech Corporation

Redwood City, California, United States

Ownership: Private
Employees: ~142
Development stage: Other

Overview

Facet Biotech was spun out of PDL BioPharma in 2008 with a $400 million capitalization to advance active drug development programs, primarily focused on monoclonal antibodies for oncology and autoimmune diseases. Its most advanced asset was daclizumab for multiple sclerosis, which it partnered with Biogen Idec. The company rejected a hostile takeover by Biogen Idec in 2009 and was acquired by AbbVie for $450 million in 2010. Daclizumab received FDA approval as Zinbryta for MS after the acquisition.[5][6][7]

Therapeutic areas: Neurology
Modalities: Monoclonal antibodies (mAbs)[5]Biologics (inferred from focus on mAbs and oncology)
Industry: Biotech

Partnerships

Biogen Idec (co-development partner for daclizumab/MS program)[5][7]

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