Seattle Genetics, Inc., a biotechnology company signed definitive agreements to purchase Bristol-Myers Squibb’s pharmaceutical manufacturing facility in Bothell, Washington, USA.
The facility, known as the Monte Villa Parkway Research Center, is a state-of-the art manufacturing and laboratory space built in 2014. Seattle Genetics plans to utilize the facility primarily for antibody production for current and future pipeline programs. As part of the transaction, the company intends to offer employment to the manufacturing facility’s current employees. The transaction is expected to close in the second half of 2017.
“This turnkey manufacturing facility provides the capability, capacity and skilled workforce needed to support our expanding antibody-drug conjugate and immuno-oncology pipeline, and complements our existing outsourced manufacturing model,” said Vaughn Himes, Ph.D., Chief Technical Officer of Seattle Genetics. “In addition, its location near our corporate headquarters will provide operational synergies with our current technical operations team and underscores our strategy for continued growth in Washington state.”