By Eric Fetters
Herald Writer
Even as his Seattle-grown biotechnology giant merges with an out-of-state company, Ed Fritzky says Immunex Corp. will maintain a large presence in the area.
Fritzky, president and chief executive officer at Immunex, talked to an audience Thursday night at the University of Washington Business School about the biotechnology community and his company’s ongoing acquisition by Amgen Inc.
"We’re working through all the different milestones one has to work through when you merge companies," he said of the $16 billion deal, which is expected to close later this year.
One of the unanswered questions out of the merger with California-based Amgen is how it will affect Immunex’s operations in Bothell and Seattle.
Last month, the company scaled back construction on the "Helix Project," Immunex’s $750 million research and development center being built along Elliott Bay.
"What we have delayed are a couple of the administration buildings, because we’re not sure of the configuration of these until the merger’s completed," Fritzky said.
Of more direct concern to Snohomish County is the fate of Immunex’s facilities at Bothell’s Canyon Park Business Center.
In a memo released last month, Immunex said it is reassessing whether to renovate its microbial laboratories in Bothell. Amgen has kept mum about the plant’s future.
Over the past decade, Immunex has spent about $100 million on the Bothell manufacturing and development facilities, which employ about 200. A year ago, the company opened a 50,000-square-foot, $50 million product development center there.
While no decisions have been made, Fritzky said the new development center and the manufacturing capability in Bothell make it a valuable site.
"It’s a very strategic asset," he said.
Immunex is the biggest success story out of the region’s biotech industry. Started in 1981, the company’s growth has been fueled by the rheumatoid arthritis drug Enbrel. Other uses for the drug have since been discovered or are being tested.
Fritzky said he doesn’t think the local company’s acquisition will have a large affect on the biotechnology corridor in Snohomish and King counties.
He said research institutions such as the University of Washington and the Fred Hutchinson Cancer Research Center, a growing number of venture capital firms and dozens of startup companies provide a good mix to make the Puget Sound region a major biotech center.
"There’s tremendous potential here. This area has phenomenally unique qualities," he said, adding that the entrepreneurial spirit here helps.
"It’s a collaborative culture. People can sit down and share ideas pretty easily."
You can call Herald Writer Eric Fetters at 425-339-3453 or send e-mail to fetters@heraldnet.com.
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