Seattle Genetics, Inc., a biotechnology company, announced Monday that it has agreed to purchase a manufacturing facility in Bothell.

The company, headquartered in Bothell, purchased the Monte Villa Parkway Research Center from Bristol-Myers Squibb, a global phamaceutical company, for 43.3 million, according to the Seattle Times.

Seattle Genetics plans to use the 51,000 square foot facility, which was built in 2014, for “antibody production for current and future pipeline programs,” according to a press release.

The company also intends to offer employment to the current employees working at the facility.

“This turnkey manufacturing facility provides the capability, capacity and skilled workforce needed to support our expanding antibody-drug conjugate and immuno-oncology pipeline, and complements our existing outsourced manufacturing model,” said Vaughn Himes, Ph.D., chief technical officer of Seattle Genetics, in a press release. “In addition, its location near our corporate headquarters will provide operational synergies with our current technical operations team and underscores our strategy for continued growth in Washington state.”

Seattle Genetics “develops and commercializes novel antibody-based therapies for the treatment of cancer.”