Seagen co-founder, CEO resigns after allegations of domestic violence

The main executive of Seagen, Washington’s biggest biotech organization, resigned Monday right after allegations of domestic violence from him arrived to gentle. 

Clay Siegall, who also served as chairperson of the business, was arrested April 23 at the Edmonds-region home he shared with his wife. Law enforcement contend Siegall, 61, assaulted his wife early that early morning for the duration of an argument witnessed by company. 

Siegall will depart Seagen, recognised as Seattle Genetics right until 2020, with a severance offer that incorporates 1.5 periods his once-a-year salary and bonus, according to a filing with the U.S. Securities and Exchange Fee. Siegall was compensated $16.5 million in 2020, generating him Washington state’s best compensated CEO, as calculated by The Associated Press and the government facts business Equilar. 

Siegall, who co-established Seagen in 1997, experienced taken a depart of absence very last 7 days after information of his arrest appeared in pharmaceutical trade publications. His resignation was authorized by Seagen’s board of directors Monday.

The 3,000-personnel firm stated it has appointed Main Health care Officer Roger Dansey as interim CEO though it lookups for a new chief govt. Dansey has been with the corporation given that 2018, in accordance to SEC filings. Seagen shares rose just about 6% following the news of Siegall’s resignation.

When Siegall’s go away of absence was declared, Seagen claimed it was also launching an independent investigation into his conduct. In a information launch, the corporation said that “Siegall’s resignation has not been driven by findings from the investigation.”

Woodway police went to Siegall’s household at 3:30 a.m. the day of his arrest following his wife identified as 911 declaring he had attacked her, according to a law enforcement report. She declined to discuss with police, who mentioned that she appeared to have injuries to her legs and forehead. Police have been identified as in from neighboring jurisdictions to search the 11,600-sq.-foot residence. 

In a petition for a protection buy submitted times afterwards in Snohomish County Top-quality Courtroom, his wife claimed Siegall threw her to the flooring and dragged her about the household. She went on to describe Siegall as “angry, violent, managing and threatening” all through significantly of their eight-12 months romance.

Siegall has denied the allegations. The couple submitted for divorce in 2021 following two decades of marriage but experienced reconciled. Siegall’s lawyer did not return requests for remark Monday.

Siegall was introduced from Snohomish County Jail hrs immediately after his arrest and has not been billed in the make a difference. Yelena Stock, Woodway’s municipal prosecutor, claimed the circumstance is presently underneath overview.

Specializing in most cancers technological know-how, Seagen described $1.6 billion in earnings in 2021 and a current market capitalization of $26.2 billion. Aside from the Seattle location, the firm has spots in California, Canada, Switzerland and the European Union.

Seagen announced last April it was growing its producing capability with a 270,000-sq.-foot facility in Bothell. The corporation stated Siegall’s resignation will not impact its programs and routine for the production plant.

“Seagen expects to have the facility operational in 2024 and ultimately make use of up to 200 remarkably experienced staff to deliver medicines for scientific trials and the industrial current market,” the firm explained in a information launch.

Siegall has also resigned as chairperson of Umoja Biopharma, a Seattle-dependent biotech startup. San Francisco-primarily based Nurix Therapeutics reported in an SEC filing Monday that Siegall has resigned from its board as nicely.