PDL BioPharma, Inc., a biopharmaceutical company, engages in the discovery and development of antibodies for oncology and immunologic diseases worldwide. Its development stage product, Daclizumab is a humanized monoclonal antibody that is used as an active component of Zenapax, which is indicated for the prevention of acute organ transplant rejection following transplant surgery, and is in Phase II clinical study for the treatment of multiple sclerosis, as well as is in the Phase II evaluation stage for the treatment of asthma and transplant maintenance. The company’s other products include Volociximab (M200), a chimeric monoclonal antibody, which is in two Phase II clinical trials for ovarian cancer and two Phase I clinical trials for non small cell lung cancer; HuLuc63, a Phase I candidate for advanced multiple myeloma; PDL192, a humanized monoclonal antibody that is in preclinical development stage; and Nuvion, a humanized monoclonal antibody that binds to CD3, a protein found on the outer membrane of T cells. PDL BioPharma has a collaboration agreement with Biogen Idec for the joint development, manufacture, and commercialization of Daclizumab and for shared development and commercialization of Volociximab (M200). The company was founded in 1986 as Protein Design Labs, Inc. and changed its name to PDL BioPharma, Inc. in 2006. PDL BioPharma is headquartered in Redwood City, California.