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 News Release - May 24, 2010

Seattle Genetics Names Vice President, Sales and Announces Management Promotion

BOTHELL, Wash.--(HSMN NewsFeed)--Seattle Genetics, Inc. (Nasdaq:SGEN ) today announced the appointment of Charles (Chip) R. Romp as Vice President, Sales. Mr. Romp brings more than 19 years of biotechnology and pharmaceutical sales and sales management experience to the company, most recently from Genentech, a wholly owned member of the Roche Group. In addition, the company announced the promotion of Jonathan Drachman, M.D., to Senior Vice President, Research and Translational Medicine.

“Chip’s extensive leadership abilities and proven success in oncology product sales will be an important asset to the commercial organization at Seattle Genetics,” said Bruce J. Seeley, Executive Vice President, Commercial of Seattle Genetics. “As we move towards planned submission of our New Drug Application for brentuximab vedotin (SGN-35) in the first half of 2011, we will be strongly positioned given Chip’s deep understanding of new product launches, sales force structure and deployment, and the hematology marketplace.”

Charles Romp was previously at Genentech since 1998, most recently as National Sales Director for Avastin (bevacizumab). During his tenure, he held several senior sales leadership positions for both oncology and immunology products, including Rituxan (rituximab) and Xolair (omalizumab), and was project lead for deployment recommendations for Genentech’s BioOncology sales forces. Mr. Romp received a Bachelor of Arts from the University of Florida and an MBA from Saint Leo University (formerly Saint Leo College) in Florida.

“Jonathan is a top performer and has made many key contributions to Seattle Genetics’ product portfolio,” said Clay B. Siegall, Ph.D., President and Chief Executive Officer of Seattle Genetics. “Jonathan’s group will now encompass research, preclinical and early clinical development, and he will join the company’s executive management team. I am confident he will continue to demonstrate his effective leadership in this expanded role.”

Jonathan Drachman joined Seattle Genetics in November 2004, serving most recently as Vice President, Translational Medicine, overseeing activities involved in moving the company's programs from preclinical into clinical development. Prior to joining Seattle Genetics, Dr. Drachman was Associate Professor in the Hematology Division, Department of Medicine at the University of Washington in Seattle, where he remains a Clinical Associate Professor of Medicine. Dr. Drachman received a B.A. in biochemistry from Harvard University and an M.D. from Harvard Medical School. He completed his residency in Internal Medicine and fellowship in Medical Oncology at the University of Washington in Seattle.

About Seattle Genetics

Seattle Genetics is a clinical stage biotechnology company focused on the development and commercialization of monoclonal antibody-based therapies for the treatment of cancer and autoimmune disease. The company’s lead product candidate, brentuximab vedotin, is in a pivotal trial under a Special Protocol Assessment with the U.S. Food and Drug Administration. Brentuximab vedotin is being developed in collaboration with Millennium: The Takeda Oncology Company. In addition, Seattle Genetics has four other product candidates in ongoing clinical trials: lintuzumab (SGN-33), dacetuzumab (SGN-40), SGN-70 and SGN-75. Seattle Genetics has collaborations for its ADC technology with a number of leading biotechnology and pharmaceutical companies, including Bayer, Celldex Therapeutics, Daiichi Sankyo, Genentech, GlaxoSmithKline, MedImmune, a subsidiary of AstraZeneca, Millennium: The Takeda Oncology Company and Progenics, as well as an ADC co-development agreement with Agensys, an affiliate of Astellas. More information can be found at www.seattlegenetics.com.

Certain of the statements made in this press release are forward looking, such as those, among others, relating to the company’s plan to submit a New Drug Application for brentuximab vedotin. Actual results or developments may differ materially from those projected or implied in these forward-looking statements. Factors that may cause such a difference include, among others: that the company may experience delays in the completion of the clinical trials of brentuximab vedotin, whether caused by competition, adverse events, patient enrollment rates, regulatory issues or other factors; that the clinical trials, including the pivotal clinical trial for relapsed or refractory Hodgkin lymphoma, may not demonstrate that brentuximab vedotin is both safe and effective; that data from our phase I clinical trials of brentuximab vedotin may not necessarily be indicative of the subsequent clinical trial results, including our potential pivotal clinical trial results; and that the safety and/or efficacy results of these trials, including the brentuximab vedotin pivotal clinical trial for relapsed or refractory Hodgkin lymphoma, will not support an application for marketing approval in the United States or any other country. More information about the risks and uncertainties faced by Seattle Genetics is contained in the company’s Form 10-Q for the quarter ended March 31, 2010 filed with the Securities and Exchange Commission. Seattle Genetics disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.


Source: Seattle Genetics

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