Seagen Statement on Outcome of Daiichi Sankyo Arbitration
Washingtoner/10182820

BOTHELL, Wash.--(BUSINESS WIRE)--Seagen Inc. (Nasdaq: SGEN) today issued a statement regarding the outcome of the arbitration with Daiichi Sankyo Co. Ltd. ("Daiichi Sankyo") relating to the parties' 2008 collaboration agreement for the use of Seagen's antibody-drug conjugate (ADC) technology. The arbitrator ruled in favor of Daiichi Sankyo, citing statute of limitations and disagreement with Seagen on the interpretation of the contract.

"While we are disappointed with the arbitration decision, it was important for us to pursue this legal action," said Roger Dansey, M.D., interim Chief Executive Officer and Chief Medical Officer, Seagen. "This does not impact our existing business. Looking forward, we are well-positioned to drive continued innovation and growth with four commercial products and a deep and diverse pipeline of promising programs. Seagen remains focused on developing innovative medicines that make a meaningful difference in the lives of cancer patients."

More on Washingtoner

• Creator Space LA brings together industry leaders for an immersive AI showcase, demonstrations, and film hackathon
• The Hardest Part of Building an App Isn't Starting - It's Finishing
• Uxur Taxi Unveils Luxury 3,000‑Mile Private Driver Service for Nationwide Travel
• Tacoma: Statement from District 4 Council Member Sandesh Sadalge on the Critical Importance of Centering Equity in Regional Transit Decisions
• Seattle Filmmaker Maikaru Launches Mainasty Press with Ambitious "21 Novels in 21 Months" Initiative

About Seagen

Seagen Inc. is a global biotechnology company that discovers, develops and commercializes transformative cancer medicines to make a meaningful difference in people's lives. Seagen is headquartered in the Seattle, Washington area, and has locations in California, Canada, Switzerland and the European Union. For more information on the company's marketed products and robust pipeline, visit www.seagen.com and follow @SeagenGlobal on Twitter.

Forward Looking Statements

Certain of the statements made in this press release are forward looking, such as those, among others, relating to Seagen's continued innovation and growth, as well as its pipeline. Actual results or developments may differ materially from those projected or implied in these forward-looking statements. Factors that may cause such a difference include, without limitation, the risk that the company's financial results may not be as expected and the difficulty and uncertainty of pharmaceutical product development. More information about the risks and uncertainties faced by the company is contained under the caption "Risk Factors" included in Seagen's Quarterly Report on Form 10-Q for the quarter ended June 30, 2022, filed with the Securities and Exchange Commission. Seagen disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise except as required by applicable law.

More on Washingtoner

• Tacoma: Street Closure Projected to Start the Week of April 20 for Residential Street Restoration Program Maintenance Work
• Colorfront Launches New Mac App For Creating Apple Immersive Video
• Michele Mundy's "Divinely Tailored" Gains Momentum
• Evermore Bliss Launches AI Wedding Speech Writer to Help Users Create Personalized, Heartfelt Toasts
• Keenethics enters the ChatGPT Apps ecosystem as a new growth opportunity for businesses

Contacts

For Media
David Caouette
(310) 430-3476
dcaouette@seagen.com

For Investors
Peggy Pinkston
(425) 527-4160
ppinkston@seagen.com

---

Show All News | Disclaimer | Report Violation