Seattle Genetics is a biotechnology company that develops antibody-based therapies for cancer. With a market value of approximately $10 billion and 900 employees, Seattle Genetics has continued to enhance its dominance in the biotech industry in Washington. The company has a steady growth. In 2016, the company’s sales revenue increased by 46 percent. The company’s 2016 sales was $418 million while their stock price has grown three times in the past five years. The stock, which was $20 per share, is now $66. The company’s recent success has left analysts speculating a future buyout.
Clay Siegall, the CEO and co-founder of Seattle Genetics, said that Seattle Genetics is a “global, multi-product and oncology company.” He stated his desire to continue growing the company rather than selling it to a larger company. Seattle Genetics leads in the development of ADCs, with ADCETRIS being their flagship drug. The FDA approved drug treats Hodgkin Lymphoma without damaging normal cells. ADCETRIS is sold globally through a partnership with Takeda Oncology. It is among the 11 drugs that the company is developing. Siegall said that four among them, including ADCETRIS, are likely to sell big. The others drugs include 33A for myeloid leukemia and 22ME for bladder cancer.
About Clay Siegall
Clay Siegall co-founded Seattle Genetics in 1998. Under his leadership, the company has developed a broad pipeline of therapies for cancer. Siegall has overseen strategic partnerships with various leading biotechnology and pharmaceutical companies in the field of oncology to commercialize its products. The ambitious leader has worked relentlessly to ensure successful capital-raising activities that have seen the company secure over $675 million. In addition, Dr. Siegall played a pivotal role in ensuring that ADCETRIS is approved by FDA.
The successful scientist holds a B.S. in zoology from the University of Maryland and a PhD in Genetics from the revered George Washington University. Clay Siegall spent the initial years of his career at Bristol-Myers Squibb Pharmaceutical Research Institute. He left the company in 1997 to join the National Cancer Institute and later the National Institutes of Health. Presently, he sits on the board of Alder BioPharmaceuticals, a privately held biotechnology company. He holds over 15 patents and has authored more than 75 publications. Clay does not only focus on the development of drugs but also marketing of the same. The company’s success is a reflection of Siegall’s exceptional leadership and undying commitment by his team. Siegall will continue to undertake comprehensive research with the objective of developing viable solutions.