Seattle Genetics was founded in 1998 and deals with manipulating, studying and packaging of drugs. The company has a market value of approximately $10 billion and employees of roughly 900. The company is ranked as the largest in Washington in the biotechnology field. The company has substantial investments in the marketing and research with the aim of employing 200 more staff as a path towards becoming a pharmaceutical company.
The company previously launched adcetrics, a drug that treats Hodgkin lymphoma, a lymph system cancer that quickly spreads to other body systems once in the body of a human being. The drug has been undergoing several tests, and with positive feedback, the sale of the drug will take off. Clay Siegall, the Chief Executive Officer, President, chairman of the executive and co-founder of the company explains the many drugs in their pipeline as confirmation of their desire to become a pharmaceutical industry. In raising capital for the company to research on the adcetrics, they sold their international rights and partnered with Takeda Oncology. With their partnership with the Takeda Oncology, Seattle Genetics learned several techniques used in global markets, and recently they opened an international marketing office in Switzerland that will enhance their global markets.
The company is on a steep escalation in the global markets. In the year 2016, the company made sales of close to 28 million dollars, a 46% rise from the year 2014. The company’s stock price has tripled in the past five years from one share rising from $20 to $66. Several analysts bet on the prospect takeover based on the firm’s increasing valuation
Prior to co-founding Seattle Genetics, Clay Siegall worked for Bristol-Myers Squibb Research Institute in the year 1988-1991, National Health Institute from 1988-1991 and the National Cancer Institute. He is a board member of the Alder Biopharmaceuticals, a company that is privately owned and specializes in biotechnology and a private biotechnology company, Mirna Therapeutic. He is also an author of over 70 publications, and he also owns 15 patents.
Clay Siegall received his bachelor’s degree in zoology from the Maryland University, and he also owns a Ph.D. in Genetics from the University of George Washington.
In 2014, Ultragenyx Pharmaceuticals appointed Clay Siegall as one of the executive committees. Ultragenyx Pharmaceutical Incorporation is a biopharmaceutical company that focuses on the advancement of novel products for ultra-rare and rare disease.