Clay Siegall’s progress in the Oncology Sector
Seattle Genetics is a company that was established in 1998 to focus on biotechnology. It has studied and manipulated various antibodies to develop drugs that are used in curing dangerous conditions such as cancer. The technology that the company uses injects antibodies into cancer cells, and therefore, destroying their inner structure. The inventions that Seattle Technologies has made have assisted it to develop into one of the leading firms in the biotechnology community. The founder of the enterprise, Dr. Clay Siegall, is devoted to growing it into a pharmaceutical company that manufactures and sells drugs. The corporation is valued at $10 billion and has a workforce of 900 employees. It is regarded as the largest biotech enterprise in Washington. Siegall’s ambitions to transform Seattle Genetics have made him invest billions in research and marketing.
The biotechnology firm’s flagship drug is called Adcetris. It is used for treating Hodgkin lymphoma, which is cancer that originates from the lymph and spreads to other body parts. Clay Siegall considers Seattle Genetics as an upcoming oncology company. In the past, the firm sold its global business rights to Takeda Oncology to raise sufficient funds to conduct research and develop Adcetris. It has now taken a different direction and wants to handle all its international marketing in future. Seattle Genetics now handles its global marketing from a new office that it has established in Switzerland.
The company’s sales have been increasing annual. It generated $418 million in 2016, which is about 46 percent higher from what it made in 2014. The business has managed to triple the worth of its stocks in the past three years from $20 to $66. Seattle Genetics invested $376 million in research in 2016. The firm has currently focused on developing antibody-drug conjugates (ADCs). These drugs stimulate the immune system to produce antibodies that kill Hodgkin lymphoma. ADCs are efficient since they do not harm the healthy body tissues and cells. Adcetris has been approved by the FDA.
Dr. Clay Siegall is a well-established genetics and biotechnology expert. He acts as Seattle Genetic’s CEO and president. Clay’s career as a researcher kicked off in 1988 when he joined the National Institute of Health. The scientist worked in various medical research organizations before the establishment of Seattle Genetics. His experience has enabled him to join the boards of Alder BioPharmaceuticals, Ultragenyx Pharmaceutical, and the Washington Roundtable. Clay has patented 15 biotechnology products to date.