Seattle Genetics Going Global with Cancer Therapy
At the peak of Bothell’s Cascade Business Park, where the Seattle Genetics is situated, you are faced by a not so edgy group of beige buildings that do not look so science related. Despite this, in Building ’s lobby, one starts to sense the science feel in the building upon encountering a green triangular sculpture. The sculpture that seems to be made out of Lego pieces is a representation of an antibody in the human body. The human antibodies are at the center of focus by the Seattle Genetics. The study, manipulate and after that package them into various medicines ever since 1998 when the company started. The strength of the antibodies developed by Seattle Genetics is in how they merge with something else, which is a therapy treatment. The antibodies enter and fight the cancer cells and destroy them from the inside-out by delivering a toxic payload.
Such an approach that they have employed in their treatment is exactly the type of research that could put Seattle Genetics in a position to play with the big boys. This is believed by many to turn the company into the pharmaceutical company that the biotech community of Seattle has long been searching for to guide them through the roller-coaster ride that the sector has been facing. So far, Seattle Genetics has become the largest biotech company in Washington with a workforce of 900 employees and $10 billion market value. The company’s dream is to be among the few to go from biotech to big pharma. Therefore they have added 200 employees and invested more in marketing and research.
The brand’s flagship drug called Adcetris was invented to treat Hodgkin Lymphoma, which is cancer affecting the lymph system that is capable of affecting other organs. Clay Siegall, the CEO, co-founder, and President of the company, says that they are a company that is emerging globally with numerous products as well as oncology. Clay used the knowledge on global markets he gained from partnering with Takeda Oncology and opened a new office in Switzerland so that Seattle Genetics can manage its marketing needs. In the year 2016, Seattle Genetics reached $418 million in sales which was a sharp incline of 46% from the previous year. Seattle Genetics’ has tripled in stock price to $66 from $20 by mid of May.
Dr. Clay Siegall is not only the CEO and President of Seattle Genetics but also the Chairman of the Board of Directors. He has helped the company to build a pipeline of cancer therapies that are based on antibodies. He also helped the company acquire $675 million financing from the private and public sectors.