Pfizer laid off 100 employees in Bothell, Wash., according to a filing with the state Employment Security Department posted on Monday.
The pharmaceutical giant established a significant presence in Bothell following its $43 billion acquisition of cancer drugmaker Seagen in 2023. Pfizer employs about 1,667 people in the Seattle region, according to LinkedIn.
Earlier this year, Pfizer discontinued development of an antibody-drug conjugate (ADC) tied to the acquisition of Seagen and took a $1 billion impairment charge.
Last year Pfizer shut down construction on a new 270,000 square-foot manufacturing facility Seagen had been building near its headquarters. Pfizer laid off about 120 employees at the time.
Founded in 1998 as Seattle Genetics, Seagen pioneered the development of ADCs, a class of cancer therapies that use antibodies to deliver toxins or other small molecules directly to targeted cells. Seagen had four oncology drugs at the time of the acquisition to Pfizer.
Seagen had 3,300 total employees when it was acquired by Pfizer. It was the largest biotech company in the Seattle area at the time.
Read the full article here
