Dr. Clay Siegall is a renowned scientist who does targeted cancer therapies. With a Ph.D. in Genetics from George Washington University, he has helped many cancer patients get better treatment options. He founded Seattle Genetics, a biotech firm in 1998 and the company has since then done numerous research work to develop drugs for cancer patients.
He is the firm’s president, CEO, and chairman. Before establishing the company, he worked with Bristol-Myers Squibb Pharmaceutical Research Institute and also the National Institute of Cancer.
Over the years, Seattle Genetics has specialized in studying antibodies and transforming this into drugs that offer useful therapy. Antibodies are known to kill cancer cells by destroying them from the inside. The firm has risen and is currently the largest biotech firm in Washington. Its market value is $10 billion and employs 900 employees. The company could soon become a big pharma because of the millions invested in research work and marketing of their products. Its debut drug, Adcetris, which treats Hodgkin lymphoma, could soon be in the stores if the tests being carried out now prove decisive.
Dr. Siegall has good plans for the company and insists the company’s pipeline of drugs confirms the firm’s commitment to becoming a big pharmaceutical company rather than follow in the footsteps of other biotech firms which only sell to other more prominent companies. Seattle Genetics currently does its international marketing for its new drugs through its Switzerland office. The business made a bid to acquire rights to commercialize a cancer drug developed by Immunomedics. The bid, made in February was worth $2 billion. However, the firm withdrew the offer in May because of a court case. Nonetheless, the offer showed the firm’s commitment to understand the market better and increase productivity. The business had a 46% increase in 2016 sales, and its stock price has also tripled over the last five years. The increased research spending is mainly responsible for this success.
Seattle Genetics’ main focus is a drug referred to as ADC. There are 11 drugs in the firm’s pipeline, of which four could attract immediate sales according to Dr. Siegall. First is Adcetris which the FDA has approved could soon be preferred for diagnosis by oncologists as the first therapy. This could mean annual sales shoot to over $1 billion. The second drug is known as 33A which treats acute myeloid leukemia. The third is 22ME targeting bladder cancer and finally LIV1 for breast cancer.