Bothell-based biotech Seagen Inc. (Nasdaq: SGEN) has named David Epstein, a former executive at the Swiss pharmaceutical giant Novartis, as CEO and a member of the board.
Esptein's hire comes roughly six months after previous Seagen CEO Clay Siegall, also a co-founder of the biotech, resigned in May following an arrest on suspicion of domestic violence. Roger Dansey, chief medical officer at Seagen, had been serving as interim CEO since May and will keep the CMO role in addition to taking the role of president of research and development.
"David’s demonstrated ability to build and scale a global oncology business, his experience in both large multi-faceted organizations and small biotechnology startups, combined with deep oncology knowledge, provide the strategic and operational expertise needed to lead Seagen to the next level,” Felix Baker, chair of the board at Seagen, said in a release.
Epstein spent more than 25 years at Novartis and helped build its oncology business, according to Seagen. He also served as CEO of the company's subsidiary Novartis Pharmaceuticals.
Siegall first took leave from Seagen on May 9, more than two weeks after the arrest, which the company didn't disclose when it announced his leave. According to a Woodway Police Department report, Siegall, who lives in Woodway, had gone out to dinner with friends the night of his arrest, and another couple had come back to Siegall's home with him and his wife. Police showed up after his wife and the other couple called to say Siegall was hurting his wife.
Seagen, formerly Seattle Genetics, was founded in 1998. The company is focused on cancer medicines and has treatments on the market aimed at Hodgkin lymphoma and bladder, breast and cervical cancer. Seagen is also building a 270,000-square-foot biomanufacturing facility in Everett slated to open in 2024.
"I am honored to become CEO and work with the experienced team to further deliver on Seagen’s mission to make a meaningful difference so that people who have been diagnosed with cancer can live better lives," Epstein said in a release.
In August, Seagen lost an arbitration case against the Japanese drugmaker Daiichi Sankyo regarding its cancer drug Enhertu. Seagen was seeking monetary damages and royalties from sales of Enhertu, which in August gained U.S. approval for lung and breast cancer. Seagen said in a July regulatory filing Daiichi Sankyo's Enhertu technologies are improvements to Seagen's own technology that was protected under a 2008 collaboration agreement between the two biotechs.
