The human antibody is an important factor in the operations of Seattle Genetics. It is what the firm has been capitalizing on in creating cancer drugs and therapies since 1998. The company seems to have the right foot in the track and the Seattle biotech community is optimistic that the sector is headed in the right direction.
Seattle Genetics hopes to one day grow from a biotech company to a big pharmaceutical firm. The dream could come true sooner as it is currently the biggest biotech firm in Washington. The firm has a market value of approximately $10 billion currently. The current employees’ rate is at 900 with plans to add 200 more in research and marketing this year. The company developed its first drug, Adcetris, which treats the cancer of the lymph known as Hodgkin lymphoma. Seattle Genetics later sold its commercial rights in international markets to Takeda Oncology. The partnership benefited the company as it became aware of international opportunities. The company now does not intend selling any rights for their new drugs that are in the pipeline. It will use the lessons learned to do its international marketing. This strategy is evidenced by the recent opening of its Switzerland office. Clay Siegall had also planned to invest $2 billion in acquiring the rights to sell a drug by Immunomedics. He, however, did not succeed but the move cemented Seattle Genetic’s commitment to the global market.
Seattle Genetics has been on the rise regarding sales and stocks value. It recorded $418 million in sales last year, which was an increase of 46 percent from the year 2014. The company’s stock has risen from $20 to $66 per share. The two positives have added its valuation by over 50 percent in just a year. Seattle Genetics has not relented in the drugs development agenda. It has continued to invest more in research, mostly focusing on antibody-drug conjugate. The firm’s new drugs are promising, with 4 out of the 11 in the development phase scheduled to be released to the market soon. The drugs are 33A, 22ME, LIV1 and Adcetris.
About Clay Siegall
Clay Siegall is the CEO, President, and the chair of the Board of Directors for Seattle Genetics. He also sits on the board of Mirna Therapeutics among others.
Clay studied at the University of Maryland where he attained a Zoology degree. He also attended the famed George Washington University, graduating with a Ph.D. in Genetics.