PDL BioPharma Appoints David Gryska to its Board of Directors

        PDL BioPharma Appoints David Gryska to its Board of Directors

PR Newswire

INCLINE VILLAGE, Nev., March 10, 2014

INCLINE VILLAGE, Nev., March 10, 2014 /PRNewswire/ --PDL BioPharma, Inc.
(PDL) (NASDAQ: PDLI) today announced the appointment of David W. Gryska to its
board of directors. Mr. Gryska brings more than 30 years of strategic
biopharmaceutical and financial leadership experience to PDL and has
demonstrated success in implementing successful strategic initiatives, growing
companies and executing multi-billion dollar financial transactions.

PDL BioPharma, Inc.

"Dave is a welcome addition to our board. He brings extensive global financial
and operations experience in the biopharmaceutical and medical device industry
gained by years of experience with multiple companies and technologies,"
stated John P. McLaughlin, president and chief executive officer of PDL.
"Dave's knowledge and extensive network will strengthen our position as we
continue to pursue additional income generating assets for our portfolio."

Mr. Gryska is currently an independent consultant and serves as a director on
public company boards. He most recently served as chief operating officer and
a director of Myrexis, Inc., a biotechnology company, from May 2012 to
December 2012. From 2006 to 2010, he was senior vice president and chief
financial officer of Celgene Corporation. From 2004 to 2006, he served as a
principal at Strategic Consulting Group, where he provided strategic
consulting to early-stage biotechnology companies. Mr. Gryska served at Scios,
Inc. from 1998 to 2004 where the majority of this time was in the position of
senior vice president and chief financial officer. Scios was acquired by
Johnson & Johnson in 2003. From 1993 to 1998, he served as vice president,
finance and chief financial officer at Cardiac Pathways. Prior to that, Mr.
Gryska served as a partner at Ernst & Young. During his 11 years at EY, he
focused on technology industries, with an emphasis on biotechnology and
healthcare companies. Mr. Gryska holds a B.A. in Accounting and Finance from
Loyola University and an M.B.A. from Golden Gate University, and is a licensed
CPA. He currently serves on the boards of directors of Seattle Genetics, Aerie
Pharmaceuticals and Argos Therapeutics.

About PDL BioPharma, Inc.

PDL BioPharma manages a portfolio of patents and royalty assets, consisting
primarily of its Queen et al. antibody humanization patents and license
agreements with various biotechnology and pharmaceutical companies. PDL
pioneered the humanization of monoclonal antibodies and, by doing so, enabled
the discovery of a new generation of targeted treatments for cancer and
immunologic diseases for which it receives significant royalty revenue. PDL
is currently focused on intellectual property asset management, acquiring new
income generating assets, and maximizing value for its shareholders.

The company was formerly known as Protein Design Labs, Inc. and changed its
name to PDL BioPharma, Inc. in 2006. PDL was founded in 1986 and is
headquartered in Incline Village, Nevada.

In 2011, PDL initiated a strategy to bring in new income generating assets
from the healthcare sector. To accomplish this goal, PDL seeks to provide
non-dilutive growth capital and financing solutions to late stage public and
private healthcare companies and offers immediate financial monetization of
royalty streams to companies, academic institutions, and inventors. PDL
continues to pursue this strategic initiative for which it has already
deployed approximately $550 million to date. PDL is focused on the quality of
the income generating assets and potential returns on investment. For more
information, please visit www.pdl.com.

NOTE: PDL BioPharma and the PDL BioPharma logo are considered trademarks of
PDL BioPharma, Inc.

Forward-looking Statements
This press release contains "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Each of these forward-looking
statements involves risks and uncertainties. Actual results may differ
materially from those, express or implied, in these forward-looking
statements. Important factors that could impair the Company's business are
disclosed in the risk factors contained in the Company's 2012 Annual Report on
Form 10-K filed with the Securities and Exchange Commission. All
forward-looking statements are expressly qualified in their entirety by such
factors. We do not undertake any duty to update any forward-looking statement
except as required by law.

Logo - http://photos.prnewswire.com/prnh/20110822/SF55808LOGO

SOURCE PDL BioPharma, Inc.

Website: http://www.pdl.com
Contact: Peter Garcia, PDL BioPharma, Inc., +1-775-832-8500,
peter.garcia@pdl.com or Jennifer Williams, Cook Williams Communications, Inc.,
+1-360-668-3701, jennifer@cwcomm.org
Press spacebar to pause and continue. Press esc to stop.