Within the business park in Bothell, we have Seattle Genetics. The business park makes head office for the biotech company whose study centers human antibodies. They even have a sculpture to show for it just outside their business premises. They would them convert the results of the study into drugs. They have been in operations since their birth 29 years ago. In their technology, antibodies involved are used to develop toxin to cancer cells. The cancer cells would get destroyed from within. Success in their research would see them shoot up into the big leagues.
The company has recently increased its market value to $10 billion with its 900 staff members. It aims at becoming a big pharmaceutical company despite its being the largest biotech in Washington. They have put so much into their research in terms of effort and money. They intend to increase their staff members by 200. In the words of the company’s president and co-founder, Clay Siegall, the biotech is going across continents. He went ahead to list the drugs under its research that will make it a multiproduct oncology company. One that would proceed in greatness instead of selling out to other big companies. His desire is graduate his concerns from drug creation to handling the marketing technicalities for their new drugs. This is unlike their previous operations where they partnered with Takeda Oncology. This was because they needed to come up with money to boost research of its flagship drug, Adcentris. Adcentris is meant for treatment of cancer of the lymph system. After their relationship with Takeda, Siegall decided to perform its own international marketing. He acquired knowledge of this from interactions with Takeda.
Seattle genetics has experienced much growth recently. It had over $418 million sales last year. The company has not made much profit yet but with its recent successes, its value increased by more than half. They even had their stock price increase from $20 to $66 a share. There are experts who expect that with this rise in value, the company may later sell out to another. There are those that disagree saying that they deserved it because of their intense efforts into research. The company has also majored its research on ADC whose target is antigens. Their technology is meant to attach to cancer cells, killing them from within without causing damage to normal body tissues. Their research should help reduce the damage caused in chemotherapy and radiation.
There are four very promising drugs by the company: Adcentris which is meant to treat Hodgkin lymphoma and that was approved by the FDA, there is drug 33A that aims at treating acute myeloid leukemia. There is also drug 22ME meant for bladder cancer and for breast cancer, they have drug LIV1. Director of Life science Washington, Leslie Alexandre believes that the bigger the company in biotech, the more the confidence. Specialized scientists are a very difficult group to employ for these companies. She said this to prove to investors that they are doing well around there.
Clay Siegall Bio
This George Washington University Graduate is the founder and president of Seattle Genetics, a biotech company. He has led the company for over 29 years since its birth. Under his leadership, the company has created varying treatments for anti-body based cancer. He helped in creation of ADCENTRIS a drug that has been approved by the FDA.
Before Seattle Genetics, Clay Siegall worked at Bristol-Myers, a research institute for pharmaceuticals and also at the National Cancer Institute. He graduated with a Ph.D. from Washington campus and also graduated from Maryland College with a Bachelors in Science in Zoology. Clay Siegall is also an author with more than 70 items published.