The world headquarters of Seattle Genetics is at Bothell’s Cascade Business Park. The human antibodies are the center of what Seattle Genetics has been studying from 1998. The antibodies from the company can destroy cancer cells from the inside. This method of destroying the cells may put Seattle Genetics in the same category as other big leagues, something that the biotechnology community of Seattle hopes for. It’s valued at approximately $10 billion, and it has over 900 employees. It’s the largest biotech in Washington and t hope to advance from biotech to big pharma.
The company’s flagship drug, Adcetris Treats Hodgkin lymphoma. The expansive tests underway are likely to be positive, and the sales could increase. Clay Siegall, the co-founder, CEO, president, and chairman stated that Seattle Genetics is an emerging oncology company that is a global and multi product with its list of drugs. This shows the great strides to build the company instead of selling it to a larger company. His efforts also work towards handling the complex international drug market. Also, Siegall made a bid to acquire the rights to commercialize a cancer drug developed by Immunomedics but later withdrew it due to an unrelated struggle over control of Immunomedics board.
Seattle Genetics is growing fast and increased its sales by 46% in 2016 from 2014, and its stock prices have tripled, even though the company has never made a profit. Some analysts argue that this could be a sign of a buy out in future while others argue that its investment in research justifies the numbers.
Of all the drugs that Seattle Genetics has, four of them are the most popular and are used to treat Hodgkin lymphoma, another one targets myeloid leukemia, the third one is aimed at treating bladder and urothelial cancer, and the last one targets breast cancer.
Both political and economic conditions can be confusing but Siegall remains adamant because he loves making drugs and his entrepreneurial success can be attributed to imitating Art Levinson, founder of Genentech and current chairman of Apple Inc. He also does not believe in taking no for an answer.
About Clay Siegall
Clay Siegall is the co-founder, CEO, president and chairman of Seattle Genetics. He has, from from George Washington University , a Ph.D. in Genetics and from University of Maryland a BSc. in Zoology from the. He has written over 70 journals and held 15 patents.
He also works on the Panel of Directors of Alder BioPharmaecuticals and Ultragenyx. Clay was, from the years from 1991 to 1997 with Bristol-Myers Squibb Pharmaceutical Research Institute. Clay also served on the National Cancer Institute and National Institutes of Health from 1988 until 1991.