famouswba
Sat, 07 May 2005 08:27:41 -0700
Seattle Genetics Appoints Biotechnology Expert Franklin Berger to
Board of Directors
BOTHELL, Wash.--(BUSINESS WIRE)--July 1, 2004--Seattle
Genetics, Inc.
(Nasdaq:SGEN) announced today that Franklin M. Berger, CFA, a
biotechnology
industry analyst with over 25 years of experience in capital markets
and
financial analysis, has been appointed to the company's Board of
Directors.
"Franklin's financial expertise and extensive knowledge of the
biotechnology industry will provide a valuable perspective to the
company,"
stated Clay B. Siegall, Ph.D., President, Chief Executive Officer and
Interim Chairman of the Board of Seattle Genetics. "His appointment
reflects
our ongoing commitment to foster a Board that includes highly
qualified
independent directors to oversee Seattle Genetics' continued growth."
Franklin Berger served most recently as Managing Director,
Equity
Research and Senior Biotechnology Analyst at J.P. Morgan Securities
from
1998 to 2003. In this position, he initiated team coverage of 26
biotechnology companies and was responsible for technical,
scientific and
clinical due diligence as well as company selection. Previously,
Berger
served in similar capacities at Salomon Smith Barney from 1997 to
1998 and
Josephthal & Co. from 1991 to 1997. Prior to his work as a
biotechnology
analyst, he managed Pantagruel Partners, a firm that developed early-
stage
pharmaceutical compounds for sale to drug companies and venture
capital
firms. Berger holds an M.B.A. from the Harvard Graduate School of
Business
Administration and an M.A. in International Economics and a B.A. in
International Relations both from Johns Hopkins University.
About Seattle Genetics
Seattle Genetics discovers and develops monoclonal antibody-
based
therapeutics to treat cancer and other human diseases. The company
has built
a diverse portfolio of product candidates targeted to many types of
cancer,
including three being tested in multiple ongoing clinical trials,
SGN-30,
SGN-15 and SGN-40, and three in preclinical development, SGN-35, SGN-
75 and
SGN-17/19. The product candidates encompass three platform
technologies:
genetically engineered monoclonal antibodies, antibody-drug
conjugates
(ADCs) and antibody-directed enzyme prodrug therapy (ADEPT). Seattle
Genetics has developed leading ADC technology comprised of highly
potent
synthetic drugs and stable linkers for attaching the drugs to
monoclonal
antibodies. The company currently has license agreements for its ADC
technology with Genentech, Celltech Group, Protein Design Labs and
CuraGen
and for its ADEPT technology with Genencor International. 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.
Specifically, statements regarding the Company's continued growth are
forward-looking and actual results may differ materially from these
statements for various reasons. 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
or
failure of those collaborators to perform their contractual
obligations.
More information about the risks and uncertainties faced by Seattle
Genetics
is contained in the Company's filings with the Securities and
Exchange
Commission. 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.
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