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DAVID LUDVIGSON JOINS IDEC PHARMACEUTICALS AS SENIOR VICE PRESIDENT AND CHIEF FINANCIAL OFFICER

 SAN DIEGO, Oct. 18 /PRNewswire/ -- IDEC Pharmaceuticals(R) Corporation (NASDAQ: IDPH) has appointed David Ludvigson to the newly created position of senior vice president and chief financial officer. Mr. Ludvigson, who was recently a senior vice president at Conner Peripherals, will have primary responsibility for finance, investor relations, human resources and corporate planning. These functions previously reported to William H. Rastetter, Ph.D., president and chief executive officer.
 "David Ludvigson has a broad-based senior management background, which is unusual for a chief financial officer and ideal for IDEC," said Dr. Rastetter. "He understands the total business of building and operating a successful public company. In the financial arena, he has a proven record of success working with investment bankers, building an investor base, raising capital, negotiating deals and strategically managing corporate growth. He also has valuable expertise in strategic planning, business modeling, economic forecasting and other areas important to a well-managed company."
 "The addition of David Ludvigson completes our expansion of IDEC's senior management team," Dr. Rastetter said. "We now have the appropriate complement of senior capabilities in research and development, medical and regulatory affairs, manufacturing, marketing, business development and finance to effectively position our company for its next stage of growth."
 Mr. Ludvigson, age 43, was a key member of the management team that grew MIPS Computer Systems from a start-up to a significant participant in the computer industry. During his tenure at MIPS, he served in various capacities including, executive vice president, chief operating officer and chief financial officer. Mr. Ludvigson formerly served as vice president and chief financial officer at Systems Industries; was vice president of finance and business development at Memorex; held financial management positions at Burroughs; and had a variety of responsibilities at Price Waterhouse, primarily in the Management Advisory Services Group. He is a certified public accountant and received his M.A.S. in accounting from the University of Illinois.
 IDEC Pharmaceuticals is focused on the development of targeted immunotherapies for the treatment of cancer and autoimmune diseases. The company's most advanced product candidates include pan-B antibodies to treat B-cell lymphomas, MELIMMUNE(TM) antibodies to treat malignant melanoma, and a PRIMATIZED(TM) anti-CD4 antibody to treat autoimmune diseases. These agents typically are designed to act through immune system mechanisms and potentially offer greater specificity of action, longer therapeutic effect and lower toxicity than is typical of existing therapies. They also can be administered in outpatient settings, providing the opportunity to reduce overall treatment costs.
 IDEC Pharmaceuticals is located at 11011 Torreyana Road, San Diego, CA 92121.
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 /CONTACT: Richard W. Krawiec, director of investor relations and corporate communications, or William H. Rastetter, president and CEO, of IDEC Pharmaceuticals, 619-550-8656/
 (IDPH)


CO: IDEC Pharmaceuticals Corp. ST: California IN: MTC SU: PER

LM-JL -- SD001 -- 3288 10/18/93 10:35 EDT
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Publication:PR Newswire
Date:Oct 18, 1993
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