The triangular sculpture resembling a human antibody in Seattle Genetics’ headquarters speaks loudly about the company’s center of operations. For almost two decades now, the biotech firm has concentrated on understanding the human antibody with the aim of developing cancer drugs and therapies. The efforts have paid off with one drug ADcetris already in the market and eleven others in the pipeline. ADcetris that treats Hodgkin lymphoma acquired approval from the Food and Drug Administration. Others like 33A, LIV1, and 22ME are among the eleven in the development stage but can hit the market sooner.
The biotech sector in Seattle has for long been unstable. People had pitched their hope on Immunex but were later disappointed when Amgen acquired it prompting the move from the region. The people now are banking on Seattle Genetics to bring the much-needed stability in the industry. Their desires could soon become a reality with all pointers showing that the company is working hard to be the next big pharmaceutical firm in the region. For instance, the long list of drugs in the development stage shows that Seattle Genetics is working towards standing on its own. The company is also ready to market the drugs rather than selling its commercial rights as it did with ADCetris. Earlier this year, Clay Siegall, the company’s CEO had made efforts to acquire Immunomedics commercial rights. Though the deal never closed, the fact that he was ready to spend two billion dollars cements his commitment to become a global oncology organization. Seattle Genetics has also beefed up its research efforts by dedicating 376 million dollars to this segment.
Seattle Genetics has also been showing remarkable improvements in sales and stock’s value. Last years, the firm marked a 46 percent increase in sales from the year 2014 to record 418 million. The share value shot to 66 dollars up from 20 dollars over the same period. Currently, Seattle Genetics is almost hitting a market value of 10 billion dollars.
About Clay Siegall
Behind the growth of Seattle Genetics is the knowledgeable founder and leader Clay Siegall. He holds a Bachelor of Science degree in Zoology and a Ph.D. in Genetics from the revered University of Maryland and the George Washington University respectively.
Before founding Seattle Genetics, Clay Siegall worked for Bristol-Myers Squibb Pharmaceuticals Research Institute and the National Cancer Institute. He currently sits on the board of Alder BioPharmaceuticals, Fred Hutchinson Cancer Research Center, and Mirna Therapeutics.