PDL BioPharma Moves Headquarters

PDL BioPharma, Inc. plans to move its corporate headquarters from Fremont to Redwood City, CA during the third quarter of 2007. PDL has signed long-term leases for two existing buildings that total approximately 450,000 sq.-ft. The new headquarters will be located in the Pacific Shores Center in Redwood City and includes an existing office building and a building shell, which together will house the company’s research, clinical development and administrative operations.

“PDL is essentially out of space in our current location, and the leases we currently hold for the majority of our space in Fremont expire in the near future. This new site should accommodate our staffing and operational growth necessary to achieve our Vision 2010 aims, notably to launch new products, build our pipeline and optimize sales of our marketed products in North America,” said Mark McDade, chief executive officer of PDL.