BOTHELL — Seattle Genetics announced Tuesday that it agreed to spend $43.3 million to purchase a pharmaceutical manufacturing plant in Bothell.
The biotech firm plans to use the facility primarily for antibody production for current and future drug lines. The 51,000-square-foot plant known as the Monte Villa Parkway Research Center was built in 2014.
“This turnkey manufacturing facility provides the capability, capacity and skilled workforce needed to support our expanding antibody-drug conjugate and immuno-oncology pipeline, and complements our existing outsourced manufacturing model,” said Vaughn Himes, chief technical officer of Seattle Genetics, in a statement.
As part of the transaction, Seattle Genetics intends to offer jobs to the plant’s current employees. The center at 3450 Monte Villa Parkway was owned by Bristol-Myers Squibb.
Seattle Genetics reached a deal to pay $17.8 million to Bristol-Myers Squibb for the land and building and $25.5 million for the equipment, according to a filing with the U.S. Securities and Exchange Commission.
Seattle Genetics is developing cancer-fighting drugs that are designed to deliver cell-killing agents directly to tumors cells. The company’s signature drug, Adcetris, is used to treat relapsed Hodgkin lymphoma patients.
The company is seeking to gain Food and Drug Administration approval to allow Adcetris to be used as a front-line treatment.