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Renowned Cancer Researcher Joins Seattle Genetics Board; CFO Appointed
August 24, 2000 at 12:00 AM EDT

Bothell, WA – August 1424, 2000 – Seattle Genetics today announced that Dr. Marc Lippman, the Director of the Lombardi Cancer Research Center at Georgetown University Medical School, has joined Seattle Genetics'its Board of Directors.

Dr. Lippman is Professor and Chairman of the Department of Oncology, Professor of Medicine, and Chief of the Division of Hematology-Oncology at the Georgetown University Medical School. Previously, he was Head of the Medical Breast Cancer Section of the Medicine Branch at the National Cancer Institute. Dr. Lippman is one of the most respected scientists in the field of breast cancer. He has authored over 500 publications and received distinguished awards from the American Federation for Clinical Research and the American Association for Cancer Research, among others.

Clay Siegall, President and Chief Scientific Officer of Seattle Genetics stated, “We have worked with Marc Lippman as a member of our Scientific Advisory Board since June 1998 where he has been instrumental in guiding and focusing our research initiatives. Marc's additional contributions to our Board of Directors will be of great value.”

In another significant move, Tim Carroll was appointed Chief Financial Officer for Seattle Genetics. Tim brings over 25 years of experience in financial management, strategic planning, and investor relations to Seattle Genetics.

Most recently Mr. Carroll was VP of Finance, Chief Financial Officer and Corporate Secretary of the Aris Corporation, a global IT services company with over 700 employees. Prior to joining Aris, he was Executive VP of Finance and Operations for fine.com, a publicly held Internet development company. Mr. Carroll is a Certified Public Accountant.

Commenting on the appointments, H. Perry Fell, Chief Executive Officer of Seattle Genetics said, “We are extremely pleased to have both Dr. Marc Lippman and Tim Carroll joining us.” Dr. Fell continued, “I look forward to their contributions toward growing our scientific research and strengthening our management team.”

Seattle Genetics, Inc. is a privately ownedheld biotechnology company focused on developing novel drugs and therapies to enhance the survival of cancer patients. The Company's research and development initiatives use monoclonal antibody-based therapeutics encompassing four technology platforms: single-chain immunotoxins (SCIT), antibody-drug conjugates (ADC), monoclonal antibodies (mAbs), and antibody-directed enzyme prodrug therapies (ADEPT). Seattle Genetics has two drugs currently in clinical trials, two in late-stage development, and several lead agents undergoing preclinical testing. One of the late-stage development drug candidates is being developed through an alliance with Genentech, Inc.