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news.PDL BioPharma, a biotechnology company, has appointed Faheem Hasnain as its new president, CEO and director of the company, effective October 1, 2008.
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Following the company’s planned separation of its biotechnology and royalty operations, Mr Hasnain will become the president and CEO of the spin-off company, which will be known as Facet Biotech.
Mr Hasnain has served at Biogen Idec from 2004 to 2008, most recently as its executive vice president of oncology/rheumatology strategic business unit.
PDL also has a search ongoing for a CEO to lead the royalty focused entity, which will retain the PDL BioPharma name, subsequent to the planned spin-off transaction.
Brad Goodwin, chairman of board of directors at PDL BioPharma, said: “Faheem’s impressive leadership abilities, as well as his deep experience in oncology-focused biologics, will help Facet Biotech deliver on its mission to discover and develop antibody therapeutics targeting oncology and immunologic disease.”