Dr. Hoffman was most recently a managing director at Palo Alto-based venture capital firm, Skyline Ventures. Prior to Skyline, he was a general partner of TVM Capital. Dr. Hoffman was also the founding president, chief executive officer, and director of Allos Therapeutics, Inc., where he served as chairman until 2012.
"Steve is an excellent addition to our team. His experiences, from running Allos Therapeutics to his many years of investing in biotech, will provide PDL with additional strength in our asset acquisition program, both in terms of breadth of knowledge and his network of industry contacts in biotech and pharma," said John P. McLaughlin, president and chief executive officer of PDL. "To date, in our asset acquisition program, we have deployed almost $500 million, $368 million of which was in 2013. Our primary focus is to bring in additional assets that will allow us to extend our ability to pay dividends to our shareholders."