Formerly known as Seattle Genetics, Seagen has grown to become one of the industry’s largest biotechs, with a market value of $26 billion.
Seagen’s business is built on antibody drug conjugates, or ADCs, a type of medicine that uses laboratory-engineered antibodies to shepherd toxic payloads to specific cells. The company’s first FDA-approved medicine, for example, is an ADC used to treat multiple blood cancers.
Since the initial approval of that medicine, Adcetris, in 2011, Seagen has brought three more drugs to market. The FDA cleared Padcev in 2019 for a common form of bladder cancer, Tukysa in 2020 for an advanced type of breast cancer, and Tivdak in 2021 for hard-to-treat cervical cancer.