Protein Design Biopharma

PDL BioPharma, originally founded as Protein Design Labs, was a pioneer in the field of humanized monoclonal antibodies. The company's core value was derived from the 'Queen patents,' which covered the process of humanizing murine antibodies to make them suitable for human therapeutic use. This technology was instrumental in the development of several blockbuster drugs, including Herceptin, Avastin, and Lucentis, for which PDL received significant royalty streams. In its later years, the company transitioned into a royalty management and specialized pharmaceutical entity before ultimately deciding to dissolve and liquidate its assets starting in 2020.