Seattle Genetics has been active in studying human antibodies since it was established in 1998. The company has also been manipulating antibodies and packaging them into drugs since then. The company’s great performance is as a result of linking therapy to antibodies. The company uses antibodies to develop toxins that destroy cancer cells. This strategy could make Seattle Genetics one of the leading companies globally in the health sector.
Seattle genetics offers employment opportunities to about 900 people. The company’s market value is approximately $10 billion. Seattle Genetics is currently considered the leading biotech firm in Washington. The company still aims at becoming an international pharmaceutical firm. Seattle Genetics spends a significant amount of money in marketing and research activities. The company also aims at increasing the number of employees.
Seattle Genetics’ flagship drug known as Adcetric is quite effective at treating Hodgkin lymphoma.With the tests proving that the drug works, it is expected that sales of Adcetric could begin anytime soon. Clay Siegall said that the company is one of the upcoming multiproduct and oncology companies. Clay refers to the company’s long list of drugs to demonstrate the company’s achievements and his unmatched commitment to continue building the company. Clay says that the firm does not plan to sell to other companies.
Clay also shows his commitment to drug development by moving beyond the general focus of biotech firms. After partnering with Takeda, Seattle Genetics discovered its potential and went ahead to open a branch in Switzerland to expand its customer base. Seattle Genetics is currently experiencing tremendous growth. For instance, in 2016, the company generated about $418 million. The company’s stock has tripled in less than five years. Analysts state that the rising value of the company increasing the chances of a future buyout. Due to the high ambitions of the company, its research spending in 2016 was $376 million.
Clay Siegall played a significant role in founding Seattle Genetics. Currently, Mr. Clay serves in various executive positions in the company. At Seattle Genetics, Clay is the Chairman, President, and CEO. Under Clay’s outstanding leadership, the company has developed several cancer therapies based on antibodies. One of its successful projects was the development of Adcentris which was approved by the Food and Drug Administration of the United States. Currently, Clay Siegall is a board member of Alder BioPharmaceuticals which is privately owned. Clay Siegall also holds 15 patents.