Since its establishment in 1998, Seattle Genetics has continuously focused on the human antibodies. The company has been carrying out studies, manipulation, and packaging of drugs ever since. The company through therapies have been able to use their antibodies in destroying cancer cells. This strategy has enabled Seattle Genetics to grow into one of the leading pharmaceutical companies in the Seattle Biotech industry.
Seattle Genetics is the most substantial biotech company in Washington with over 900 employees and a market value of approximately $10 billion. The company is converging on transforming into a big pharmaceutical and has invested enormously on research and marketing. The biotech company’s leading drug, Adcetris treats Hodgkin lymphoma. Hodgkin lymphoma is cancer that affects the lymph system and also spreads to other organs of the body. The drugs positive, expansive tests will lead to an increase of its sales.
The company is going global and is currently providing many products. It has many drugs in its pipeline. According to Clay Siegall, the President, and CEO, Seattle Genetics is looking forward to becoming a big company, and it will not be sold to a big company as most of the biotech companies do. The company is also focusing on managing the complexities of marketing its new drugs globally.
Seattle Genetics is constantly growing and developing. Its stock worth has tripled in the last five years. Its approximation has also been enhanced by higher than 50% in the past year. The rising valuation is a clear indicator that business is booming in the facility. The company has mainly specialized in the production of antibody-drug conjugate (ADC) types of drugs. The drugs which target antigens attach to the outer sides of cancer cells thereby depositing toxin into the cells and killing them. According to Seagull, four out of their eleven drugs will have higher sales in the near future.
Clay Siegall is the Chief Executive Officer of Seattle Genetics. He is also the president of the biotech firm and the Chairman of its Board of Directors. Dr. Clay Siegall founded the company in 1998. He was inspired to establish the company because of his interests in medicine coupled with technology in fighting diseases.
Clay holds a Bachelor’s degree in Zoology from the University of Maryland. He acquired his Ph.D. in Genetics from the George Washington University. Prior to co-founding Seattle Genetics, Clay served in various companies. He was an employee at the National Cancer Institute as well as at the Bristol-Myers Squibb Pharmaceutical Research Institute.