How Pfizer’s $43 billion acquisition of Seagen could impact the biotech industry in Seattle
After Pfizer’s $43 billion plan to buy Bothell, Wash.-based biotech giant, Seagen, Seattle-area biotech experts believe that Seagen’s technology and talent will be a great asset to Pfizer.
Seagen has been a top player in Seattle biotech since 1998 and has been incredibly productive over the years in drug development of antibody-drug conjugates (ADCs). The company’s work with ADCs fits in with Pfizer’s emphasis on small-molecule drug candidates and combining Seagen’s platform opens the door to new types of agents.
“Ultimately, we’re seeing Washington’s life science industry hit its stride,” said Marc Cummings, CEO and president of trade group Life Science Washington. “Investors and companies around the world are paying close attention, and investing not just in assets but in the quality of the science, rich expertise and top talent in the region.”