Merck & Co completed the $1bn investment in Seagen.

Merck & Co, an American multinational pharmaceutical company, completed the $1bn investment in Seagen, a biotechnology company that discovers, develops and commercializes transformative cancer medicines. “This investment by Merck further strengthens our balance sheet, and provides us with considerable financial resources to continue building Seagen as a global, multi-product oncology company. We are investing in broad clinical development of our approved products, advancing our late-stage programs and conducting R&D to ensure a robust early-stage pipeline of innovative therapies for the treatment of cancer,” Clay Siegall, Seagen President and Chief Executive Officer.