Dr. Clay Siegall is an entrepreneur as well as a renowned scientist. The Ph.D. holder in genetics from George Washington University co-founded Seattle Genetics in 1998. Seattle Genetics was financed to the tune of $675 million through an initial IPO and from private sources.
Seattle Genetics, a biotech firm operates from Bothell’s Cascade Business Park in Seattle, Washington. Seattle Genetics specializes in the examination and engineering of antibodies to produce cancer drugs. The Seattle company has massively invested in research and has created an antibody that attacks and destroys cancer cells. The investment in research has placed Seattle Genetics on the path to becoming a large pharmaceutical company.
In an attempt to consolidate their position, Seattle Genetics has enhanced the research budget by 64 % to $376 million in 2017. The research has mainly focused on the antibody-drug conjugate or ADC that attacks and kills cancerous cells without harming healthy tissue. This technology ensures that healthy body tissue is not destroyed during chemotherapy.
Adcetris, Seattle Genetics’ premier medication for Hodgkin lymphoma is expected to spearhead the company’s efforts to be the leading cancer drugs producer. According to Dr. Clay Siegall the chief executive, Seattle Genetics’ ambition is to build an illustrious global corporation and not be bought by a large organization. In this regard, Seattle Genetics has opened an international marketing organization in Switzerland.
Seattle Genetics has other drugs undergoing research and testing. One of these drugs, with the acronym 33A, has been developed to tackle the dreadful myeloid leukemia. The other drug, 22ME targets cancers affecting the urethra while LIV1 targets cancer of the breasts.
Seattle Genetics generated more than $415 million in 2016 which is a 46 % increase over 2014. Also, Seattle Genetics’ stock prices have in the past five years risen from $20 per share in 2014 to $66 per share in mid-2017. However, Seattle Genetics suffers the problem of small cities attracting highly qualified researchers. Dr. Clay Siegall is confident about his company’s tenacity in combating cancer. Accordingly, he has internalized the words of a mentor who a long time ago advised him never to take no for an answer.
Before joining Seattle Genetics, Dr. Clay Siegall served the National Cancer Institute from 1988 to 1991 and Bristol-Myers Squibb Pharmaceutical Research Institute from 1991 to 1997. Also, Dr. Clay serves as a board member at Alder BioPharmaceuticals. Furthermore, he had 15 patents in his name and written extensively on the subject in more than 70 publications.