Seattle Genetics is an internationally recognized biotechnology-based research company that is located in the United States. The firm was created in 1998, and most of its work is focused on studying and modifying antibodies to develop top-notch drugs that can be used in cancer treatment. The company has discovered how antibodies can be injected into cancer cells to destroy their internal structure. The innovation that Seattle Genetics employs when developing drugs has enabled it to be recognized among the biotechnology sector’s most successful companies. The co-founder of the business, Clay Siegall, is determined to transform it into a leading pharmaceuticals enterprise that manufactures and sells drugs internationally. The value of the firm has risen to over $10 billion, and it has hired about 900 employees. Seattle Genetics is among the most successful biotechnology enterprises in Washington. It has dedicated billions of dollars to conducting research and marketing.
The leading drug that Seattle Genetics has invented is known as Adcetris. It was developed to cure Hodgkin lymphoma. The cancer starts at the lymph and then spreads to the rest of the body. According to Dr. Siegall, the biotechnology firm is among the emerging enterprises in the oncology sector. The company raised money to research and develop Adcetris by selling its global trading license to Takeda Oncology. It learned a lot about the international pharmaceuticals market from its partnership with Takeda Oncology. The company currently runs a worldwide marketing office that is located in Switzerland.
The annual revenue of Seattle Genetics has been growing with time. Its income rose by 46 percent between 2014 and 2016 to become $418 million. The value of the enterprise’s shares also increased from $20 to $66 within five years. Dr. Siegall has committed $376 million to facilitate the research activities of the organization. The company’s main success is the invention of antibody-drug conjugates (ADCs). The ADCs help the human body to kill Hodgkin lymphoma by stimulating it to release antibodies. The drugs are better that chemotherapies since do not have a negative impact on healthy body tissues and cells.
To date, Clay Siegall has managed to patent 15 biotechnology-based products that he has developed. He has a Ph.D. in genetics. Siegall has spent the past two decades serving Seattle Genetics as its CEO and president. His first employer was the National Institute of Health, and he has also worked for various U.S-based pharmaceutical research companies. Ultragenyx Pharmaceutical and Alder BioPharmaceuticals have appointed Clay Siegall to sit on their boards.