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Symbol SGEN
Name Seagen Inc.
Currency USD
Sector Health Care
IndustryGroup Pharmaceuticals, Biotechnology & Life Sciences
Industry Biotechnology
Market NASDAQ Global Select
Country United States
State WA
City Bothell
Zipcode 98021
Website http://www.seagen.com
Ottimo Pharma has launched under the leadership of former Seagen CEO David Epstein, focusing on a bi-functional antibody, jankistomig, that targets both PD-1 and VEGFR2 to enhance cancer immunotherapy. The startup aims to initiate its first clinical trial next year, with backing from Medicxi. Epstein emphasizes the drug's potential to significantly benefit patients with various solid tumors, while industry veterans Mehdi Shahidi and James Sabry join the team to drive development and strategy.
David Epstein, the former CEO of Seagen Inc., has launched a new biotech company, Ottimo Pharma, focused on developing a drug that addresses multiple cancer vulnerabilities. This innovative approach includes targeting a protein associated with Merck & Co.'s successful treatment, Keytruda. The company emerged after four years of development in secrecy.
In 2023, the Life Sciences sector saw a resurgence in mergers and acquisitions, with M&A investments reaching $191 billion, a 40% increase from 2022. Despite a 6% decline in transaction volume to 118 deals, major pharmaceutical companies dominated, accounting for 69% of the total investments. This trend reflects a strategic shift towards ambitious growth initiatives amid revenue pressures and the impending loss of exclusivity for key drugs.

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