Seattle Genetics, Backed by Gates and Allen Ventures, Files for IPO

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Seattle Genetics

, a biotechnology company whose backers include investment groups led by Paul Allen and Bill Gates, filed with the

Securities and Exchange Commission

for an initial public offering of $75 million of its common stock.

The company, which is based in Bothell, Wash., is involved in biotechnology research and drug development, focusing specifically on treating cancer patients. Seattle Genetics plans to seek a

Nasdaq

listing for its securities.

J.P. Morgan

,

CIBC World Markets

and

Banc of America Securities

are handling the IPO.