The U.S. biotech company Seagen, which specializes in oncology, plans to spend $48.7 million (€40 million) on research and development (R&D), production, and own infrastructure in Spain this year, as confirmed by Álvaro Núñez, general manager of Seagen in Spain and Portugal. In parallel, the company is working with the Esteve pharmaceutical company to produce tucatinib, a product against metastatic breast cancer.
Seagen is a U.S. pharmaceutical laboratory, headquartered in Seattle, which began operations in Spain in May 2020. It is a biotech company that is focused on the discovery, development, and commercialization of innovative cancer drugs.
Seagen is currently making itself known in Spain since the European Commission (EC) authorized in February the commercialization of Tukysa (tucatinib) in Europe, a pioneering therapy for HER2+ metastatic breast cancer patients previously treated with or without brain metastases (a group of patients with high medical needs).
Read more on the subject and find the most important business headlines with our companion app, Born2Invest.
Seagen Spain is working to have a team of more than 20 employees this year
The company, which works with improved antibodies that make the drugs more potent, has revenues of $1.5 billion, added the executive.
In Spain, the company is currently building the necessary team for the subsidiary, both for the clinical department, market access, and sales. The aim is that, by the end of the year, Seagen Spain will have between 20 and 25 employees.
The biotech company is working with Esteve to manufacture the product tucatinib, indicated for metastatic breast cancer, to market in Spain by the end of the year. “Our objective is to work on the development and take the product to earlier lines so that we can then take it to other tumors,” explained Seagen’s general manager in Spain and Portugal.
The company has three marketed cancer therapies and eight clinical-stage molecules in the pipeline
Clay Siegall founded Seattle Genetics, now known as Seagen, in 1997. After witnessing his father’s battle with cancer, he focused his work on manufacturing drugs for people with the disease. The company has eleven locations (Seattle area, Washington, San Francisco, Canada, Switzerland and the European Union) and more than 1,850 employees.
Seagen also has three marketed cancer therapies, eight clinical-stage molecules in its pipeline and two patented technologies: immunoconjugated drug (ADC) and defucosylated antibody (SEA). The biotech’s goal is to have five or six products on the market by 2025.
Álvaro Núñez is the general manager of Seagen’s subsidiary for the Iberian market. With a Master’s degree in Business Administration from Insead, the head of the company in Spain previously worked at Celgene and Amgen. He is joined on the management team by Luisa Pose, Chief Medical Officer; Roberto González, Market Access & Communications’ Director; and Lorena García, Head of Marketing.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Total Value of Investments on DeFi Platforms Falls Drastically
At the height of the popularity of Bitcoin and other coins, over $250 billion was invested in cryptocurrencies on DeFi...
Loopdx Opens €1 Million Round to Bring its Sepsis Biomarker to Market
n Spain, 17,000 people die every year from different types of septicemia. This condition is one of the most serious...
Why New York Raw Sugar and London White Sugar Trends Are Down
New York was lower again last week on ideas of bigger supplies. London also closed lower as White Sugar supplies and...
A Look at all the Recessions Since 1970: Three Hard Landings Stand Out
This past week saw a spectacular "rebound" "relief" rally. Could it turn into a summer rally? Just as the Fed...
Mr Bear Ain’t Going Nowhere
Since May 26th Mr Bear has been a very bad bear. We’ve seen three NYSE days of extreme market breadth...
Biotech6 days ago
Satellos Bioscience’s Stem Cell Signaling Research Could Turn the Tables on Muscular Dystrophies
Cannabis2 weeks ago
Luxembourg Approves the Self-Cultivation of 4 Cannabis Plants per Household
Crypto2 weeks ago
Solana Price Forecast: SOL Forms a Dead Cat Bounce
Crowdfunding2 weeks ago
Exporo Raises Funds, but the Company Value Decreases Instead of Increasing