Biotech Companies

The vision of Clay Siegall for the Seattle Genetics

The human antibodies are the main thing that the Seattle Genetics has been studying. It also tries to manipulate and finally packing into drugs. They have been doing this since the company was founded in 1998. Similar to the Lego bricks, the company’s antibodies power is in their ability to connect to another thing- therapy. The antibodies convey a lot into payload to the cancer cell so that it is destroyed from the inside. This strategy could take the Seattle Genetics to one of the top positions.

Most individuals are hoping that it becomes the pharmaceutical firm that the Seattle biotech community has been wanting it to be. The company has a value of approximately 10 billion dollars. It has a total of about 900 employees. It has already been ranked as one of the largest biotech companies in Washington. The chairman, president, CEO and co-founder of this corporation, Clay Siegall claims that it is an emerging global and oncology firm. He desires to build a great company instead of just selling out to the larger companies as is the trend with most biotech firms.

Clay Siegall’s ambitions are seen in his desire to move past the common focus on the development of drugs. He has also opened an office in Switzerland so that Seattle Genetics so that they handle their international marketing. Siegall has also shown commitment by making a bid to spend 2 billion dollars. This was so that they could get the worldwide rights to commercialize the cancer drug that the New Jersey Immunomedics developed. The company is already making a trajectory on steep growth. In the year 2016, the firm had made sales of about 418 million dollars. The company is yet to make a profit, but their stock price has more than tripled in five years. The recent success that it has had increased its valuation by about 60 percent in only a year.

Clay Siegall is now the president, CEO, and chairperson of the Seattle Genetics, Inc. Board. This is a company that is focused on developing and commercializing of some innovative therapies that are antibody-based. They use this for treating cancer. Mr. Siegall co-initiated the Seattle Genetics in the year 1998. Before the company began, Siegall was an employee of the Bristol-Meyers Squibb Pharmaceutical Research Institute. He worked there from 1991 to 1997. He had also worked for the National Cancer Institute, National Institutes of Health from the year 1988 to 1991. He is also the director of Alder BioPharmaceuticals, Inc. and also the Mirna Therapeutics, Inc. These are both biotechnology companies that are privately held.

 

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August 4, 2017