With the fight against cancer gaining popularity, many biotech companies are joining in the race to unearth the next drug to save the world. Though many of them recognize the complexity of the whole process, they still hold onto it believing it would be worth it.
One of such companies is Seattle Genetics based in Seattle. The company has been in existence for the last 18 years and was founded by Clay Siegal.
The main objective of the biotech company is to carry out comprehensive studies, use the findings to package anti bodies that can cure cancer. But what’s making the company more popular is the way they are connecting the antibodies with the therapy.
With such an advanced strategy, many foresee a very different Seattle Genetics in the future, and others even hope that for once Seattle community will have their own pharmaceutical company around.
The company has over 900 employees and an overall valuation of almost $10 billion. This places it among the largest biotech companies in Washington.
Seattle Genetics has produced a popular drug called Adcetris aimed at treating cancer that affects the lymphatic system, also known as Hodgkin lymphoma.
Adcetris is still under tests, and if they come out positive, the company could be the next big thing. The company aims at becoming the global multi product biotech company, thanks to its ambitious CEO and President, Clay Siegal.
Clay Siegal is also on a mission to transform his company to not only manufacturing drugs but also handling their marketing issues both locally and internationally. For this reason, they recently opened an office in Switzerland.
The company also seeks to implement their expansive knowledge on oncology to get the permit to make and take their new drugs into global markets.
Seattle Genetics’ annual sales are on the rise, and this has also impacted on its valuation in the stock market which has shot from $20 to $66 as of May. This is expected to keep rising as the company seeks to unveil other lines of drugs namely;
33A to be used in acute myeloid leukemia
22ME to be used in treating cancer of the bladder among other urothelial cancer
LIV1 aimed at countering the breast cancer
Clay Siegal attributes his success to his mentor who instructed him not to take ‘no’ for an answer.
Dr. Siegal is the CEO, chairman and President of Seattle Genetics. He is also the co-founder. Through his leadership, the company was able to produce Adcetris drug that aims at curing cancer. The drug is fully certified by FDA in the United States.
He has also helped the company raise capital through various means which include private and public financing options which raised $675 million. He is a graduate bachelor’s of Science in Zoology from the University of Maryland and a Ph. D in Genetics from George Washington University