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PROTEIN DESIGN LABS INC. FILES REGISTRATION STATEMENT WITH SEC

 PROTEIN DESIGN LABS INC. FILES REGISTRATION STATEMENT WITH SEC
 MOUNTAIN VIEW, Calif., Dec. 17 /PRNewswire/ -- Protein Design Labs Inc. (PDL) announced today that it has filed a Registration Statement with the Securities and Exchange Commission (SEC) for the sale of shares in PDL's proposed initial public offering. The Registration Statement relates to 2,500,000 shares of its common stock to be offered by PDL. The estimated offering price is $10 to $12 per share.
 Merrill Lynch & Co. and Cowen & Company will act as co-managers of the underwriting group for the proposed offering. The net proceeds of the offering will be used for various working capital and general corporate purposes, including research and development, manufacturing, and clinical trials.
 The Registration Statement relating to the shares of common stock has been filed with the SEC, but has not yet become effective. These shares of common stock may not be sold nor may offers to buy be accepted prior to the time the Registration Statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the shares of common stock in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 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.
 After Jan. 6, 1992, a copy of the preliminary prospectus can be obtained by contacting:
 Merrill Lynch & Co.
 World Financial Center, North Tower
 250 Veasey St.
 New York, NY 10281-1202
 Attention: Syndicate Operations
 212-449-1000
 Cowen & Company
 One Financial Square
 New York, NY 10005
 Attention: Syndicate Department
 212-495-6000
 -0- 12/17/91
 /CONTACT: Laurence Korn of Protein Design Labs Inc., 415-903-3700/ CO: Protein Design Labs, Inc. ST: California IN: MTC SU: OFR


DG -- SF003 -- 2781 12/17/91 07:00 EST
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Publication:PR Newswire
Date:Dec 17, 1991
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