INCLINE VILLAGE, Nev.,
Oct. 8, 2018 /PRNewswire/ -- PDL
BioPharma, Inc. ("PDL") (NASDAQ: PDLI) announces the appointment of
Edward Imbrogno as Vice President of
Finance, a new position. Mr. Imbrogno brings to PDL more than
30 years of public accounting and financial reporting experience
and will report to Vice President and Chief Financial Officer,
Peter Garcia.
"Ed's significant experience in developing internal controls for
new business growth, with responsibility for SEC reporting and
audit management, makes him an excellent addition to our team,"
said Garcia. "His work in structuring mergers and
acquisitions, and in post-acquisition accounting will be tremendous
assets as we execute on our business strategy of acquiring and
managing a portfolio of companies, products and royalty agreements
in the biopharmaceutical and medical device industries."
Most recently, Mr. Imbrogno was Senior Director and Corporate
Controller for BioDelivery Sciences International, Inc., a
NASDAQ-listed specialty pharmaceutical company. Prior to
that, he was Vice President, Financial Reporting for AerCap
Holdings N.V., an NYSE-listed company and the world's largest
independent aircraft lessor. Before that, he was Director,
Accounting for Amgen, Inc., a NASDAQ-listed multinational
biopharmaceutical company. Prior to Amgen, he was Director of
External Reporting for 3D Systems Corporation, a NYSE-listed
manufacturer of 3D printers, and Director, Business Development for
Unifi, Inc., an NYSE-listed global textiles solutions
provider. He began his career in public accounting as an
Audit Manager with Ernst & Young.
Mr. Imbrogno holds a BS in accounting from Pennsylvania State University and an MBA from
Wake Forest University. He is a
licensed Certified Public Accountant and is a member of the
American Institute of Certified Public Accountants.
About PDL BioPharma
We seek to provide a significant return for our stockholders by
acquiring and managing a portfolio of companies, products, royalty
agreements and debt facilities in the biotechnology, pharmaceutical
and medical device industries. In 2012, we began providing
alternative sources of capital through royalty monetizations and
debt facilities, and in 2016, we began acquiring commercial-stage
products and launching specialized companies dedicated to the
commercialization of these products. To date, we have consummated
seventeen of such transactions, of which nine are active and
outstanding. We have one debt transaction outstanding, representing
deployed capital of $20.0 million:
CareView; we have one hybrid royalty/debt transaction outstanding,
representing deployed capital of $44.0
million: Wellstat Diagnostics; and we have five royalty
transactions outstanding, representing deployed capital of
$416.1 million, respectively:
KYBELLA®, AcelRx, University of
Michigan, Viscogliosi Brothers and Depomed. Our equity and
loan investments in Noden represent deployed capital of
$191.0 million, respectively, and our
converted equity and loan investment in LENSAR represents deployed
capital of $40.0 million.
NOTE: PDL, PDL BioPharma, the PDL logo and the PDL
BioPharma logo are trademarks or registered trademarks of, and are
proprietary, to PDL BioPharma, Inc. which reserves all rights
therein.
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 value of the Company's assets and
business are disclosed in the risk factors contained in the
Company's Annual Report on Form 10-K, filed with the Securities and
Exchange Commission, filed with the Securities and Exchange
Commission on March 16, 2018 and
subsequent filings. 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.
Contacts:
PDL BioPharma, Inc.
Peter Garcia, CFO
775-832-8500
Peter.garcia@pdl.com
LHA Investor Relations
Jody Cain, SVP
310-691-7100
jcain@lhai.com
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SOURCE PDL BioPharma, Inc.