There are numerous firms making inroads in the sector of cancer research, and among the interesting companies of the past years has been Seattle Genetics. Seattle Genetics has been primarily studying, manipulating, and packing human antibodies drugs since its inception in 1998. The antibody works by delivering a toxic payload into cancerous cells and starts destroying them from the inside.
Seemingly, this strategy could soar Seattle Genetics into high leagues. High enough, as hoped by many, for it to become the pharmaceutical firm that the biotech community in Seattle has been looking for a long time to deal with the issues that have plagued the sector. The firm’s flagship drug is Adcetris and is utilized in treating Hodgkin lymphoma, a lymph system cancer, which can quickly spread to other body organs. The CEO of Seattle Genetics, Clay Siegall noted that the firm is among the successful emerging international, multiproduct, oncology companies.
In February, as a sign of the firm’s commitment to the global market, Siegall made a bid to spend $2 billion in the acquisition of worldwide rights for commercialization of a cancer drug formulated by Immunomedics, which is based in New Jersey. Though Siegall withdrew the bid in May following some issues at the Immunomedics’ board, this was a sign of the efforts that Clay Siegall is committed to going global.
Seattle Genetics is currently experiencing a steep growth trajectory. Last year, 2016, the firm made sales worth around $418 million, which was 46 percent growth from 2014. In the past five years, the company’s stock price has more than tripled. In mid-May, the firm’s stock was trading at $66 a share compared to the previous price of $20 a share. Recent successes in Seattle Genetics have heightened its valuation by over 50 percent in the past one year alone.
As the Seattle Genetics’ CEO, Clay Siegall has had a profound passion in ameliorating the lives of cancer patients since his career debut in biomedical studies. Currently, Siegall is the chair of the board and president of the firm. He has been serving at the firm as CEO since 2002. Siegall attended the George Washington University from where he earned his Ph.D. in genetics.
Siegall made his career debut at the Bristol-Myers Squibb Pharmaceutical Research Institute as a senior research investigator. He later got a promotion to the principal scientist position before proceeding to the National Cancer Institute to serve as a Staff Fellow and Biotechnology Fellow. After this, Clay Siegall made efforts to help in the launching of Seattle Genetics.