On Aug. 19, 2011, the FDA approved Seattle Genetics’ Adcetris (brentuximab vedotin), making it the first drug for Hodgkin’s lymphoma approved in more than 30 years. Seagen was founded in 1998 as a biotechnology company focused on developing and commercializing innovative, empowered antibody-based therapies for the treatment of cancer. On Mar. 7, 2001 the company launched its IPO and sold 7 million shares at $7 per share for gross proceeds of $49 million.