CEO Siegall takes leave of absence at Seagen

CMO Roger Dansey will become interim CEO of antibody-drug conjugate (ADC) developer Seagen Inc. (NASDAQ:SGEN) as Chairman, President and CEO Clay Siegall takes a leave of absence from the company he co-founded in 1998. Seagen said Siegall acknowledged that he is going through a divorce, but denied recent allegations of domestic violence at his home; a committee formed by Seagen’s board and an independent law firm are conducting an investigation. Dansey, a veteran of Merck & Co. Inc. (NYSE:MRK), Gilead Sciences Inc. (NASDAQ:GILD) and Amgen Inc. (NASDAQ:AMGN), has been Seagen’s CMO since May 2018.

Another ADC company,  ADC Therapeutics S.A. (NYSE:ADCT), also announced a change of CEO, with Ameet Mallik taking over from co-founder Chris Martin. Mallik, who will be located in the Swiss company’s Princeton, N.J., office, resigned as CEO of Rafael Holdings Inc. (NYSE:RFL) in November following a clinical trial miss that led to a 73% drop in the cancer company’s stock price; he had been on the job roughly six months. Prior to that, Mallik was EVP and head of U.S. oncology at Novartis AG (SIX:NOVN; NYSE:NVS), capping a 16-year career at the company. Martin, who will serve as an adviser for the next three months, will join ADC’s board and chair its science and technology committee. Shares of ADC fell $3.17 (29%) to $7.81 on Monday. The company also reported $16.5 million in 1Q22 sales of diffuse large B cell lymphoma therapy Zynlonta loncastuximab tesirine-lpyl...