The Boeing Co. has named Pat McKenna vice president and general manager of its Commercial Airplanes Fabrication business. The business unit, based in Auburn, employs nearly 12,000 worldwide, including a division in Everett where Boeing assembles aircraft interiors and wiring. McKenna is the former manager of the now-ended 717 program in Long Beach, Calif. He replaces Ross Bogue, who is now the vice president and general manager of programs in Everett.
Biotech completes sale of stock
Seattle Genetics Inc. of Bothell has completed a sale of stock totaling $5.9 million to selected investment funds. The sale followed a larger public offering of stock completed in April. Altogether, the Bothell biotechnology firm raised more than $43 million from the two transactions. The company also announced Thursday an expansion of its collaboration with New York-based Progenics Pharmaceuticals Inc. The two plan to develop a prostate-specific drug that uses Seattle Genetics’ patented technology.
Ceptyr studies diabetes treatment
Ceptyr Inc. of Bothell hopes to begin studies on a potential treatment for type II diabetes. The molecule Ceptyr is looking at, CPT633, has demonstrated in mice the ability to regulate insulin, reduce blood sugars and help to control obesity, the company reported Thursday. Following the successful completion of the remaining preclinical studies, Ceptyr expects to file an investigational new drug application with federal regulators in 2007.
Stewart now faces insider trading case
Martha Stewart, who completed a five-month prison sentence a year ago for lying about her sale of ImClone stock, is now facing another legal hurdle. The domestic diva faces a deadline Thursday to respond to a civil suit brought on by the Securities and Exchange Commission that charges she illegally used nonpublic information to sell 3,928 shares of ImClone Systems Inc. in December 2001.
Yahoo!, eBay form Internet alliance
Under a multiyear partnership announced Thursday, Yahoo! and eBay will draw upon each other’s strengths in online advertising, payments and communications so they can connect with even more Web surfers than they already do. Shares of both companies jumped on the news, reflecting investor expectations that the deal will open up even more moneymaking opportunities for two of the Internet’s oldest and most successful firms.
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