Seattle Genetics is one of the fastest growing biotech firms in Washington. The company is headed by none other than Doctor Clay Siegal. He co-founded the company back in the year 1998. And ever since, Seattle Genetics has been on an upward trajectory with an approximate overall market valuation of $10 billion. Well, no one is surprised by this fact because the company had over 900 qualified employees and registered over $418 million in sales only in 2016. Plus since 2014, the company’s stock has risen over 46 percent to now going for $66 a share.
There is more meets the eye with this 18-year old company. It is one of the iconic firms of Seattle biotech community, and many are betting on its likely growth to be among the top biotech giants in the world.
Dr. Siegal says that he is there to see the company commercialize its extensive pipeline of drugs still under research, instead of just selling it to already established firms something that has been the industry tradition.
To realize this dream, Dr. Clay Siegal hopes to make the company more self-dependent by not only producing drugs but also handling all of the international marketing processes of its products. In the past, Seattle Genetics had sold its international commercial rights to Takeda Oncology.
Recently, Siegal made a bid of about $2 billion to acquire rights to sell its flagship drug, Adcetris used to cure cancer, worldwide. Even though they couldn’t succeed to secure the permission, it proved how determined Siegal is to make Seattle Genetics the top biotech company.
The company has focused all of its efforts on developing a drug known as antibody-drug conjugate or ADC. The drug is used to target antigens to enable it to kill cancerous cells by injecting toxin in a manner that researchers called ‘smart bomb.’ To illustrate their commitment, Seattle Genetics used over $376 million only in research.
It has over 11 pipelines of drugs that have great potential to treat famous illnesses. Among the 11, there are four that have already registered some success, and they include Adcetris used for lymphatic system cancer, 22ME aimed for bladder and other urothelial cancer, LIV1 for breast cancer and 33A used to fight myeloid leukemia.
About Clay Siegal
Dr. Siegal co-founded Seattle Genetics in the year 1998, and since 2002, he has been the CEO. He has led the company to be among the most promising companies in the fight against cancer. His education background shows someone with a lot of dedication and passion. Siegal obtained his doctorate from George Washington University and B.S in Zoology from the University of Maryland.
His experience of 20 years in cancer research is what makes him the perfect person to lead Seattle Genetics, not to mention his entrepreneurial character that has made one of the respected CEOs.