About Clay Siegal
Dr. Clay Siegal is the founder and the Chief Executive Officer of Seattle Genetics. He also serves as a director at Alder Biopharmaceuticals.
Prior to starting Seattle Genetics, he worked for Bristol-Myers Squibb Pharmaceutical Research Institute and the National Cancer Institute. He also served as the director of Mirna Therapeutics
He holds a B.S in Zoology from the University of Maryland and a Ph.D. in Genetics from the George Washington University.
About Seattle Genetics
The company was founded in 1997. It has tremendously grown to become largest biotech company in Washington. It has a market value of approximately $10 billion and a total of 900 employees.
Dr. Siegal has capitalized on his knowledge on human antibodies to manufacture some of the most helpful oncology products. He has invested heavily in research and development to help the firm graduate to the top league of the big pharma industries.
His love for the human antibodies reflects from the models in the company’s headquarters. He has focused on antibody-drug conjugates. The company has 11 oncology drugs in the pipeline.
Adcetris is the pioneer product of Seattle Genetics. It treats Hodgkin Lymphoma which has the potential to metastasize. The product is approved by Food and Drug Administration as second/third line drug Hodgkin Lymphoma. There are tests being carried out that could convince the oncologists to use it as a first line drug.
Other drugs still in the development stage include 33A which targets acute myeloid leukemia, 22ME, aimed at bladder cancer and LIV1, aimed at breast cancer.
Dr. Clay Siegal has declared that the company will develop more oncology products. His candid assurance came in the midst of speculations of sale of Seattle Genetics to big pharma industries, claims he disputed.
Seattle Genetics has vowed to market its products independently. This is a reversal of an agreement where the company had sold its international commercial rights to Takeda Oncology to raise capital for research in the early development stages of Adcetris.
Seattle Genetics has opened an office in Switzerland. The office will enhance the international marketing of its products. In February, they spent $2 billion to get the worldwide rights to commercialize an oncology drug developed by New Jersey’s Immunomedics.
Seattle Genetics’ Growth
The company has recorded a steady growth. Its stock prices have tripled over the last five years. The sales are also on a rising trajectory with $418 million in 2016. This represented a sales increase of 46% from 2014.