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PROTEIN DESIGN LABS AND KANEBO ANNOUNCE AGREEMENT

 PROTEIN DESIGN LABS AND KANEBO ANNOUNCE AGREEMENT
 MOUNTAIN VIEW, Calif., March 9 /PRNewswire/ -- Protein Design Labs,


Inc. (PDL) (NASDAQ: PDLI) and Kanebo, LTD. today announced a development and license agreement recently signed between the two companies.
 Under the terms of the agreement, Japan-based Kanebo, LTD. obtains an exclusive license in Asia to PDL's SMART M195 Antibody(TM). The agreement includes an up-front payment, funded research, development milestones, and royalties on product sales. Financial details of the agreement were not disclosed.
 "This agreement is the first application of PDL's business strategy to license Asian rights to PDL proprietary products while retaining U.S. and European marketing rights for itself. We are excited about our new relationship with Kanebo and expect to work with them to bring one of PDL's most advanced products to the marketplace as quickly as possible," said Dr. Laurence Korn, president of Protein Design Labs.
 The SMART M195 Antibody is a potential therapeutic product to treat certain hematologic malignancies, especially myeloid leukemia, which afflicts approximately 15,000 patients per year in the United States.
 To address the limitations of mouse monoclonal antibodies for human therapy, PDL has designed SMART Antibodies(TM) which combine parts of human antibodies with the binding sites of mouse antibodies. PDL uses proprietary computer modeling techniques to ensure that the SMART Antibodies, which are more than 90 percent human, retain high binding affinity for the target antigens. It is expected that SMART Antibodies will be less immunogenic and have a greater half-life, and thus have greater therapeutic efficacy than mouse antibodies when used to treat humans.
 PDL's SMART M195 Antibody is based upon the mouse monoclonal M195 antibody developed by Sloan-Kettering Cancer Institute (SKI) in New York. The mouse monoclonal antibody is currently in clinical trials at SKI. PDL has an exclusive, worldwide license from SKI to genetic derivatives of the antibody, such as the SMART M195 Antibody. PDL plans to proceed with clinical development of its SMART M195 Antibody for the U.S. and European markets.
 "We are very pleased to be able to license-in this promising compound from PDL. In order to make SMART M195 the first humanized antibody in Japan as well as other Asian countries for the treatment of myeloid leukemia, we will collaborate with PDL. Furthermore, we believe that PDL's technology is excellent, and thus hope to make this agreement the first step toward a larger collaboration between our two companies in the future," stated Dr. Takashi Kiriyama, general manager of Pharmaceutical Research and Development Center, and member of the board, Kanebo, LTD.
 Kanebo, LTD. is a $4 billion Japanese corporation with 25,000 employees, having a history of more than 100 years. This company is involved in textiles, cosmetics, pharmaceuticals, food stuffs, new materials, and information systems.
 PDL is engaged in the computer-based design of antibodies and other novel proteins to treat certain disease conditions, including viral infections, autoimmune diseases, and cancer. In addition to the new agreement with Kanebo for treating myeloid leukemia, PDL corporate partnering relationships also include an agreement with Hoffmann-La Roche in the area of organ transplant rejection, a collaboration with Sandoz in the anti-cancer field, and with Yamanouchi in the area of cardiovascular disease.
 -0- 3/9/92
 /CONTACT: Laurence Jay Korn, Ph.D., president of Protein Design Labs, 415-903-3700/
 (PDLI) CO: Protein Design Labs, Inc.; Kanebo, LTD. ST: California IN: MTC SU: LIC


CK -- NY006 -- 6162 03/09/92 06:01 EST
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Date:Mar 9, 1992
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