Human antibodies are the heart of the study of Seattle Genetics. Since the foundation of the company in 1998, it manipulates and packages drugs. Seattle Genetics has a market value of $10 billion and it has 900 employees. The company is ranked as one of the largest in Washington. Seattle Genetics invests in marketing and research and is looking forward to increasing its workforce. The flagship drug for the company is Adcetris that is a treatment for lymphoma and Hodgkin. Tests are underway and if they prove positive, the sales of the drugs will kick off.
Dr Clay Siegall says that they are an emerging global multi product oncology company and refers to its long list of drugs as evidence of the desire to build a great company and not simply sell to larger companies like most biotech firms. Dr Clay Siegall is ambitious to move beyond the focus on drugs development to handling the complexities which arise from international marketing of the new drugs. This is the opposite of what the company did earlier on when it sold international commercial rights to Takeda Oncology to raise the capital for research on Adcetris.
Dr Clay Siegall recently opened an office in Switzerland to allow the Seattle Genetics to conduct its own international marketing. The commitment of the company was seen in February when it made a bid in February to spend $2 billion in order to acquire worldwide rights to commercialize a cancer drug that is developed by the New Jersey based
Immunomedics. Dr Clay Siegall recalls that many investors turned him down but he persisted choosing to follow the advice of a mentor in the laboratory who said to him that “You do not take no for an answer”.
Dr Clay siegall is the co-founder of Seattle Genetics and he serves as the company president. Before Seattle Genetics, he worked at Bristol-Myers Squibb Pharmaceutical Research institute from 1991 to 1997. He later on joined the National Institute of Health in 1988 and worked there until 1991. Dr Clay Siegall is also an author of more than seventy publications and he holds a total of fifteen patents.
Under the guidance of Dr Clay Siegall, Seattle Genetics has built diverse antibody-based cancer therapies which was granted accelerated approval by the U.S Food and Drug Administration. Dr Clay Siegall foresees the raising of capital activities and through this, the company secures more than $675 million through private and public financing and this includes the initial offering of the company in 2001. He is also a board member of the Board of Seattle Genetics.