Seattle Genetics has built a reputation as one of the leading biotechnology enterprises in the United States. It was established in 1998 and has been developing drugs by researching and manipulating antibodies. The cures that the firm has created are used for treating cancer. Its latest technology involves the destruction of cancer cell by introducing antibodies into their inner structure. Seattle Genetics is a very innovative company, and this has enabled it to rise in the biotechnology industry. Dr. Clay Siegall, who is the co-founder of the enterprise, has strived to ensure that it becomes a successful pharmaceutical corporation that develops and sells drugs globally. The firm’s net worth is estimated to be about $10 billion, and its staff comprises of 900 professionals. It is one of Washington’s largest biotechnology companies. Siegall has invested billions in research and marketing to ensure the success of the business.
The flagship drug that Seattle Genetics has developed is known as Adcetris. It focuses on curing Hodgkin lymphoma, a cancer that starts by infecting the lymph before spreading to other parts of the body. Dr. Clay Siegall believes that Seattle Genetics is a fast-rising oncology enterprise. The company once gave its global commercialization license to Takeda Oncology to make money that was used in researching about Adcetris. Its partnership with Takeda has enabled it to understand the global pharmaceutical market. Seattle Genetics has set up an international marketing division in Switzerland to assist it in selling products across the world.
The revenue that the biotechnology enterprise collects increases annually. In 2016, the firm made $418 million, which is a 46 percent rise compared to its 2014 income. The value of Seattle Genetic’s stocks has grown from $20 to $66 in the past five years. In 2016, the research firm dedicated $376 million to research undertakings. Seattle is striving to develop antibody-drug conjugates (ADCs). ADCs are used to trigger the production of antibodies that cure Hodgkin lymphoma. Doctors prefer using ADCs since they do not affect the healthy body cells.
Dr. Clay Siegall holds a Ph.D. in genetics. He has been Seattle Genetic’s president and CEO for the past two decades. Clay started his research work in 1988 by serving the National Institute of Health. Many other organizations hired him before he co-founded Seattle Genetics. The unparalleled knowledge that he gained in the sector has enabled to him to sit on the boards of Ultragenyx Pharmaceutical, Washington Roundtable, and of Alder BioPharmaceuticals.