Seattle Genetics has agreed to purchase Bristol-Myers Squibb’s pharmaceutical manufacturing facility in the North Creek area of Bothell, WA, a short drive from Seattle. The facility provides manufacturing capacity and flexibility to support Seattle Genetic’s growing pipeline. The acquisition is expected to preserves local manufacturing jobs and supports strategy for continued growth in Washington state.
The life sciences industry is the fifth largest industry in Washington State and is responsible for more than $12.5 billion of the state’s GDP. 
The presence of major philanthropic organizations and educational institutions, such as the Bill & Melinda Gates Foundation and the University of Washington, is, in part, responsible for the concentration of the biopharmaceutical and life-science industries. The Gates Foundation, for example, has funded several major grants to Seattle-based research institutes and the University of Washington consistently ranks in the top five of institutions receiving NIH funding nationally. 
Research and development companies make up the largest portion of life sciences institutions in the area. As a result, Seattle is on the cutting edge of the fast-growing immune-oncology segment of the biotechnology and life sciences industries.
According to a recent report published by Research and Markets, this segment is expected to grow from $14 billion in 2019 to $34 billion by 2024.
Known as the Monte Villa Parkway Research Center, the facility is a 51,000 square foot state-of-the art manufacturing and laboratory space built in 2014. Seattle Genetics plans to utilize the facility primarily for antibody production for current and future pipeline programs. As part of the transaction, the company intends to offer employment to the manufacturing facility’s current employees.
The transaction is expected to close in the second half of 2017.
“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, Ph.D., Chief Technical Officer of Seattle Genetics.
“In addition, its location near our corporate headquarters will provide operational synergies with our current technical operations team and underscores our strategy for continued growth in Washington state,” he added.