Trending...
- ExtraCarry Now Supports Taurus GX2 13-Round Mags and 15-Round Magazines
- Oom Yung Doe Hosts Children's Halloween Safety Seminar in Kirkland
- New Free Science Bingo Cards Help Grade 1 Students Learn Through Play
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
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
Contacts
For Media
David Caouette
(310) 430-3476
dcaouette@seagen.com
For Investors
Peggy Pinkston
(425) 527-4160
ppinkston@seagen.com
"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
- Local Lighting Experts Debut AI Christmas Decorator: Upload a Photo, Get Instant Professional Holiday Design-- Completely Free
- Surf Air Mobility (N Y S E: SRFM) Accelerates Regional Air Mobility Revolution with Electra Aero Partnership, Palantir Alliance, and Record Revenue
- Cybersecurity is Fast Becoming a Vital Issue for Protecting Personal Information and Portfolio Wealth
- 10 Essential Tips for Maximizing Value When Choosing Your Orlando Wedding Venue
- Americans Are Trading Offices for Beaches: How Business Ownership Enables the Ultimate Location Freedom
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
- Boston Industrial Solutions' Natron® DC Series Ink Has Had an Upgrade!
- Colony Ridge Proudly Supports the All Ears! 2025 Sporting Clays Tournament
- Jacob Emrani Nominated for LA Executive Award
- Spokane: Flags Lowered for Former Vice President Richard Cheney
- Kansas City Steak Company Shares the Return of Their Holiday Gift Box
Contacts
For Media
David Caouette
(310) 430-3476
dcaouette@seagen.com
For Investors
Peggy Pinkston
(425) 527-4160
ppinkston@seagen.com
Filed Under: Business
0 Comments
Latest on Washingtoner
- Lawproactive Launches Next-Generation CRM, Marrying Data and Location with Geo-Optimized Funnels for Attorney Lead Generation
- POWER SOLUTIONS N.V. Partners with ENERGY33 LLC to Deliver a 40.5 MW Temporary Power Project for ECUACORRIENTE S.A. in Ecuador
- Tacoma: Planned System Outages in November 2025
- Pioneering the Future of Human-Computer Interaction Through AI-Powered Neural Input Technology: Wearable Devices Ltd. (N A S D A Q: WLDS)
- Epic Pictures Group Sets North American Release Date for the Action Thriller LOST HORIZON
- HR Soul Consulting Recognized as a 2025 Inc. Power Partner Award Winner for the Fourth Consecutive Year
- Eramls Investment Alliance under Nolan Mercer Launches InsightNova System for AI-Driven Investing
- Pullman Good Food Co-op Announces Future Home in the Heart of Downtown Pullman
- Atrish Investment Alliance Under Asher Mercer Expands Global Compliance Collaboration
- Spokane: Hope Soccer and Parks and Rec Partner to Expand Youth Soccer Access
- Tacoma: Portion of McMurray Hill Road NE to Close for Hazardous Tree Removal
- Tacoma: Connect With Creativity at 'Arts at the Armory' on November 15 and 16
- Spokane: City Details Veterans Day Schedule
- Brazil 021 Chicago Launches New Website and Expands with No-Gi Classes for All Levels
- American Star Guard Unveils a Powerful Rebrand and Expanded Security Services Throughout Nevada
- PlaceBased Media Expands Point-of-Care Advertising Inventory Across U.S. Clinic Network
- Flexible Plan Investments launches FlexDirex, a first-to-market suite of single-stock ETF strategies in the U.S
- Spokane: Mayor Brown Introduces Mid-Biennium Budget Modification To Close Deficit While Maintaining Community Priorities
- Spokane Police Chief's statement
- Spokane: Council Member Bingle to Host Press Conference