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PDL BioPharma was a pioneer in the humanization of monoclonal antibodies and generated significant revenue through royalties on blockbuster biologics such as trastuzumab, bevacizumab, and palivizumab. The company spun out its drug development activities into Facet Biotech in 2008 and focused on managing intellectual property assets until it entered liquidation effective January 2021. Its legacy includes enabling key therapeutic antibodies now marketed by major pharmaceutical companies.
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