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

• City of Tacoma Recognized for 39th Consecutive Year with Highest Honor in Governmental Financial Reporting
• Tacoma: City to Conduct Essential Asphalt Repairs on Proctor Street April 6 – 10
• $16 Billion Market by 2034 in Underwater Drones Presents Huge Opportunity for AI-Powered Autonomous Vehicle Serving Defense & Commercial Customers
• Appliance EMT Named Among Jacksonville's Top 3 Appliance Repair Companies by ThreeBestRated®
• Western Washington Coalition for Life Announces Participation in International 40 Days for Life

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

• Geekstorians Nominated For Best History Podcast In The 30th Annual Webby Awards
• Quality Water Treatment Unveils SoftPro Elite HE Water Softener for City Water, Setting a New Standard in Residential Water Treatment
• UK Financial Ltd Chooses PUMP.FUN App to Launch Maya Meme's Minor-League Meme Coins and Announces Lifetime Airdrop Program
• Suspect Arrested, Stolen Trailer and Property Recovered in Tacoma Vehicle Theft Investigation
• Boston Industrial Solutions Expands Its Industry-Leading UV Ink Portfolio with the Launch of a Matte Ink - Natron® UVPZ

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