Doctor Clay Siegal founded one of the fast-growing biotechnology companies in Washington, Seattle Genetics, Inc in the year 1998. Everyone believes that this company has the potential to grow into one of the big leagues in Seattle biotech community and even globally. Outside the headquarters of this giant biotech firm, there is a huge sculpture modeling human antibody.
This may seem like any other sculptures we are used to around the city, but something is underlying this particular one. It symbolizes the power and uniqueness of Seattle Genetics. The company is known for its earth-breaking invention way of dealing with cancerous cells.
They developed an antibody called antibody-drug conjugate (ADC) used to target antigens. What happens is that when the patient takes this drug, it causes the immune system to produce antibodies. It then attaches itself outside parts of lymphatic system cancer cells in and kills them by injecting toxin.
This is what Seattle Genetics has placed most of its focus because they believe that if it turns out to be positive, its sales could go through the roof.
This and many more Seattle Genetics’ drugs have contributed to its tremendous growth. Look at their sales in 2016 alone. They had over $418 million which is whole 46% increase from 2014. Perhaps it is not surprising to know that Seattle Genetics is currently valued at $10 billion.
As expected, some analysts believe that Seattle Genetics is on its way to buyout, but its CEO Dr. Clay Siegal has the opposite to say. Siegal has other plans for his company. He wants to make Seattle Genetics a multiproduct oncology company. He boasts of its long list of drugs with great potential and wants to build something great instead of selling it as many others expect.
In a bid to bring the best out of Seattle Genetics, Siegal wants to shift the focus from drug manufacture to handling international markets of its products. Takeda Oncology was the one helping them reach more through worldwide commercialization. To affirm this, Siegal recently opened an office in Switzerland.
According to Seagal, out of their 11 drugs, four of them display a great potential regarding sales, and they include;
- Adcetris – approved by Food and Drug Administration (FDA) to be used as second or third option in treating Hodgkin lymphoma
- 33A – for myeloid leukemia or AML
- 22ME – treating any urothelial cancer such as bladder cancer
- LIV1 – treating breast cancer.
About Clay Siegal
Siegal is known by many for his determination both as a researcher and an entrepreneur. He has an experience of more than 20 years in cancer research. This could be the reason why many of his peers and global leaders trust his company to help solve the cancer puzzle.
Besides his experience, Siegal is a learned guy. He went to the University of Maryland for his undergraduate degree in Zoology and later topped it with doctorate from George Washington University.