Bothell-based Seattle Genetics Inc. will sell up to 10 million new shares of stock at $9 each, with the goal of raising up to $85 million for the biotechnology firm. The company anticipates using proceeds from the sale to fund research and development, including clinical trials, and for general corporate purposes. The offering date for the public sale of stock is Jan. 24.
Bothell’s Helix to buy peptides
Helix BioMedix Inc., a Bothell-based developer of wound-healing proteins called peptides, has forged a manufacturing and supply agreement with Peptisyntha Inc. Under the agreement, Peptisyntha will manufacture and supply large quantities of peptides to Helix over the next two years. Shares of Helix rose 20 cents, or 33 percent, to 80 cents Friday.
Cardiac Science makes big sale
The Los Angeles County Fire Department has given a vote of confidence to Bothell’s Cardiac Science Corp. The city has equipped its first responder units with 425 automated external defibrillators made by the company. After reviewing competitors, the fire department chose Cardiac Science’s defibrillators, which meet and exceed tough clinical and environmental standards for professional fire and emergency medical services, the department said.
Bothell’s CellCyte to fight lawsuit
In response to a proposed shareholder lawsuit, CellCyte Genetics of Bothell said Friday that the legal action is “without merit and will be shown to be so in a court of law.” The biotech firm has hired its own law firm. The proposed shareholder suit from a Seattle-based law firm alleges that CellCyte misrepresented its chief executive’s experience and misstated the company’s goals to shareholders.
Microsoft hires Disney exec
Microsoft Corp. has turned to an executive at The Walt Disney Co. to fill a vacancy created when the software maker fired its chief information officer. Tony Scott, Disney’s senior vice president and chief information officer, will join Microsoft in February, replacing Stuart Scott, no relation. Microsoft fired Stuart Scott in November, saying he had violated company policies, which Microsoft has not publicly specified. Tony Scott, 56, was the first CIO to manage companywide information-technology operations at Disney, Microsoft said. Before that he served as chief technology officer at General Motors Corp. and vice president of operations at Bristol-Meyers Squibb Co. He will manage 4,000 people who run the technology systems supporting Microsoft’s worldwide sales and marketing efforts as well as corporate processes.
From Herald staff and news services
Talk to us
> Give us your news tips.
> Send us a letter to the editor.
> More Herald contact information.
