Seattle Genetics Pockets $11.5M

Luke Timmerman6/1/09

Seattle Genetics, the Bothell, WA-based developer of targeted antibody drugs, has raised another $11.5 million, according to a regulatory filing. The company received approval from existing shareholders sell more shares to Baker Brothers Life Sciences, an investment firm led by one of the firm’s directors, Felix Baker. The $11.5 million sale was a follow-on transaction from a $55 million offering the company pulled together in January.

Luke Timmerman is the National Biotech Editor of Xconomy, and the Editor of Xconomy Seattle. E-mail him at ltimmerman@xconomy.com or follow him on Twitter at twitter.com/ldtimmerman.