The only part, perhaps of the entire business park that would make Seattle Genetics pass for a science research institute is the green triangular sculpture on building three. The Sculpture is a model of a simplified human antibody. The human antibody lays at the foundation of the company’s growth. Since its foundation, they have manipulated, studied and packaged antibodies into drugs. According to research, it is the antibody that delivers a toxic payload to the cancer cells. The company is on a path that will catapult it into the big leagues that comprise of a few pharmaceutical companies. It is the hope of the majority that the company stays independent.
The company’s current market value stands at $ 10 billion. It has a workforce of about 900 employees. It stands as the largest biotech company in Washington. Much of its revenue goes towards research. A series of tests on Adcetris drug are underway. If they give positive feedback, the drug that is used for the treatment of Hodgkin lymphoma will be available in the market. According to its founder and CEO, Clay Siegall, the company has a long list of drugs in the pipeline. The list is an indication of his desire to develop the business rather than sell to another institution.
Siegall has shown several signs of commitment. In February, he made a $2 billion bid that would allow him to commercialize a drug developed by immuno-medics, New Jersey. However, Siegall withdrew the offer after a judge established that there was an unrelated struggle in Immuno-medics board. In the past three years, Seattle Genetics stocks price has tripled from $20 a share to $66 a share. Additionally, sales have gone up by 44 percent since 2016. Analysts suggest that the upward trend is an indication of an expected buyout while others indicate that the substantial investment in research is a dedication towards a greater company. Among the 11 drugs on the pipeline, Clay Siegall says that four of them holds the highest potential for immediate sales.
Dr. Clay Siegall is the co-founder and chairman of Seattle Genetics. He started the company with the aim of helping cancer patients. Over the years, he has steered the company towards the development of ADC’s and antibody-based cancer therapies. Under his leadership, Seattle Genetics received approval from the FDA for the ADC’s in 2011.
Clay Siegall has help the company in raising and securing capital. He mobilized a total of $675 through public and private financing. Additionally, he took the company through its initial public offering in 2001. Clay Siegall worked with Bristol-Myers Squibb Pharmaceutical Research Institute for six years. Siegall is also an author. Clay holds a degree in zoology from the University of Maryland and a Ph.D. in genetics from George Washington University.