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Article: Seattle Genetics Getting $40M Through Convertible Financing.
- Article from:
- BIOWORLD Today
- Article date:
- November 4, 2009
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Associate Managing Editor
If asked, Seattle Genetics Inc. President and CEO Clay Siegall would say investors believe small biotechnology companies can burn them two ways - by running out of money and/or having science that eventually fails. With agreements now for $40 million in financing, Siegall has reduced how dangerous his company is to investors.
"Most [investors] will say there are two risks: one is financing, the other a science risk," he told BioWorld Today. "We have a very deep pipeline in that we have multiple products," which reduces the science risk.
"For small biotech companies, there is an uncertain financing environment that ...