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Seattle Genetics Names Morris Rosenberg Vice President, Development
July 10, 2001 at 12:00 AM EDT
Company expands its product development and clinical manufacturing initiatives
Bothell, WA – July 10, 2001 – Seattle Genetics, Inc. (Nasdaq: SGEN) announced today the appointment of Morris Z. Rosenberg as Vice President, Development. Dr. Rosenberg will be responsible for overseeing all aspects of development through to clinical trials, including process development, quality assurance and manufacturing.
“As the Company continues to bring forward its pipeline of monoclonal antibody-based therapeutics, Morris’ expertise in the area of antibody production and manufacturing will be instrumental,” stated Clay B. Siegall, President and Chief Scientific Officer of Seattle Genetics. “His proven leadership ability and experience in both biotechnology and large pharmaceutical companies will be a valuable addition to our organization and senior management team.”
Dr. Rosenberg commented, “I look forward to joining the Seattle Genetics team and helping to build a world class biotechnology company dedicated to bringing important new therapies to the market. Monoclonal antibody-based therapies, such as those under development at Seattle Genetics, represent a rapidly expanding and exciting class of therapeutic agent for the treatment of a variety of diseases, including cancer, and I am extremely enthusiastic to be given an opportunity to play a key role in leading this effort.”
Dr. Rosenberg brings over 14 years of scientific, manufacturing, process development and management experience to his new role. He joins Seattle Genetics from Eli Lilly (NYSE: LLY), where he was Head of Fermentation and Cell Culture Process Development. Previously, Dr. Rosenberg held positions at Biogen, Inc. (Nasdaq: BGEN), where he was Section Head for Biochemical and Process Engineering, and Invitron Corp., where he was a scientist. He holds a M.S. and a DSc. in Chemical Engineering and a B.A. in Biology from Washington University in St. Louis, Missouri.
About Seattle Genetics
Seattle Genetics discovers and develops monoclonal antibody, or mAb, -based therapeutics to treat cancer and related diseases. The Company utilizes its mAb-based technologies to increase the potency and efficacy of antibodies with specificity for cancer. Seattle Genetics has four mAb-based technologies: engineered mAbs, mAb-drug conjugates, single-chain immunotoxins and antibody-directed enzyme prodrug therapy. Using these technologies and its expertise in cancer, Seattle Genetics has built a diverse portfolio of drug candidates targeted to many types of human cancers, including two currently being tested in clinical trials. The Company also out-licenses its mAb-based technologies to strategic partners developing targeted therapies. More information about Seattle Genetics can be found at www.seattlegenetics.com.
Certain of the statements made in this press release are forward-looking. 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 risks related to adverse clinical results as our product candidates move into and advance in clinical trials, risks inherent in early stage development and failure by Seattle Genetics to secure collaborators. More information about the risks and uncertainties faced by Seattle Genetics is contained in the Company’s filings with the Securities and Exchange Commission, including its registration statement on Form S-1 (Registration No. 333-50266.) dated March 6, 2001. Seattle Genetics disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Peggy Pinkston, Manager of Investor Relations