Since its establishment in 1998, Seattle Genetics has made human antibodies the center of its operations. Over the years, the entity has been conducting research on the same with the objective of developing viable therapies. Notably, antibodies deliver a toxic payload into a cancer cell. This way, they obliterate it from the inside. The strategy and technology that Seattle Genetics is using to find a viable cure could drive the firm into the top league. Many hope that it will become the pharmaceutical company that the biotech community in Seattle has been seeking to support through the challenging cycles that the sector has faced. They also hope that it will not relocate from Seattle as Immunex did following its acquisition by Amgen.
Seattle Genetics boasts of 900 employees. The company has a market value of $10 billion. Presently, it ranks as the biggest biotech firm in Washington. The management of the firm seeks to join the big pharmaceutical league. The company invests considerably in research and marketing. Notably, Adcetris is Seattle Genetics’ flagship drug. It treats Hodgkin lymphoma, a cancer of the lymph system, which can move to other organs.
Clay Siegall notes that they are an emerging international, multi product and oncology firm. Siegall is Seattle Genetics’ chairman, and chief executive officer. He posits that the company is developing many other drugs.
Presently, the company is on a growth trajectory. In 2016, the firm’s sales were $418 million. This was an increase of 46 percent compared to 2014. Over the last five years, Seattle Genetics’ stock price has increased from $20 a share to $66 as of May. According to some analysts, the rising valuation is a big sign of a future buyout. Moreover, according to Leslie Alexandre, the attention placed on the firm’s drugs that are in the pipeline mirrors favorably on the Washington State’s biotech ecosystem. Alexandre is the director of Life Science Washington, which is an advocacy group for the biomedicine and biotechnology sectors.
About Clay Siegall
Clay Siegall is the president of Seattle Genetics. He incorporated the biotech firm in 1998. Under his visionary leadership, the company has developed many antibody-based cancer therapies. One of the most successful drugs to be developed by the company, ADCETRIS, was approved by the FDA in 2011. In addition, Siegall has also led Seattle Genetics’ capital raising activities. Today, he has raised nearly a $ 1 billion.
Siegall has had a successful career in the biotech and pharmaceutical industry. Previously, he worked for the Bristol-Myers Squibb Pharmaceutical Research Institute. He also worked for the National Cancer Institute. Clay Siegall holds 15 patents. The executive serves on the board of Mirna Therapeutics.