Seattle Genetics is a company which has vested its interests in studying and manipulating human antibodies. These antibodies are packaged into drugs. Since its establishment in 1998, Seattle Genetics has been involved in a technology that utilizes antibodies in the fight against cancer. This medical approach is expected to grow the reputation of Seattle Genetics.
Seattle Genetics’ Unique Strategy
Seattle Genetics has a market value of almost $10 million and a work force of 900 employees. It is also ranked among the largest biotech companies in Washington. The company aims to transform into a big pharmaceutical company in the near future. Seattle Genetics also intends to increase its work force by 200 employees by the end of the year.
Adcetris, is one of Seattle Genetics’ secret weapon. This drug is designed to treat Hodgkin Lymphoma, a cancer of the lymph system that is capable of spreading to other body organs. Adcetris is an antibody-drug conjugate. The drug targets antigens. These antigens attach themselves to the exterior of cancer cells and deliver a poison inside these cells to obliterate them. These drugs can be likened to smart bombs in the sense that they deliver a toxin that destroys cancer cells but does not harm normal tissue. This strategy significantly reduces the type of damage that could be caused in healthy cells during radiation and chemotherapy.
Clay Siegall, the CEO of Seattle Genetics, admits that his company is an international multi-product oncology firm. He cites the list of drugs that his company produces as evidence of his intentions to build a great organization rather than sell to large corporations like many biotech companies do.
Siegall’s ambitions are to move the company’s focus past drug development and towards dealing with the affairs of marketing its new drugs. In the past, the company sold commercial rights to Takeda Oncology as a means of raising capital for its research on Adcetris. The partnership with Takeda allowed Siegall to learn about global markets and caused him to open an office in Switzerland to run the firm’s international marketing campaigns.
About Clay Siegall
Dr Siegall is one of the founders of Seattle Genetics. He is the firm’s chief executive officer and president. It is through his leadership that the company has managed to build a series of antibody-based cancer treatments including ADCETRIS which was approved by the FDA in 2011.
Before co-founding Seattle Genetics, Siegall worked at the “National Cancer Institute between 1988 and 1991. He later went to work with “Bristol-Myers Squibb Pharmaceutical Research Institute” between 1991 and 1997. Dr. Siegall is the author of over 70 publications and owns 15 patents. He studied Genetics at “George Washington University” and Zoology at the “University of Maryland”.