It was reported in July 2017 about Seattle Genetics turning from a pharmacy to a big market leader. Seattle Genetics is a dominant biotech organization in the region, but the question is whether Seattle Genetics will be acquisition target or a growth magnet of the local industry.
Seattle Genetics main focus has been the mainly studying about human antibodies. Since being found in 1998, the organization has been manipulating, studying, and packaging drugs. Their strategy could lead them to the big leagues, or they could be like the acquisition of Immunex in Seattle.
So far, their stats include them being worth approximately $10 billion and 900 employees. Thus, they are already ranking as the biggest biotech in Washington. And they heavily invest in marketing and research. They are also planning on adding 200 more personnel to their firm.
The firm also has some drugs that have had moderate to great success so far. Their flagship drug is Adcetris which treats Hodgkin lymphoma which is a lymph system’s cancer. Also, Dr. Clay Siegall stated a bid to spend $2 billion in February to acquire the global rights in commercializing a cancer drug produced by Immunomedics, company based in New Jersey. They are also focusing on an antibody-drug conjugate (ADC) which are drugs that target antigens. Antigens are protein molecules causing the production of antibodies in the immune system. The other drugs they are mainly focusing on include the 22ME which targets the bladder and other urothelial cancers and the LIV1 which targets breast cancer. They have a total of 11 drugs at Seattle Genetics, but these four have the potential of huge immediate sales.
About Clay Siegall
Clay Seigall, Ph.D., is the President, founder, Chairman, and CEO of Seattle Genetics,
www.seattlegenetics.com, which is located in Washington. He co-founded this firm in 1998. This firm has created a grand array of cancer therapies that are based on antibodies. Their drug, Adcetris, was granted a swift approval in 2011 by the US Food and Drug Administration (FDA).
Dr. Siegall’s other experience includes the following: Director, Board of Directors of
Ultragenyx Pharmaceutical since 2014, Director, Board of Directors of Mirna Therapeutics, Inc. since 2013, and the Director, Board of Directors of Alder Biopharmaceuticals Inc. since 2006. He also earned his Ph.D. from the George Washington University in Genetics and a BS degree from the University of Maryland in Zoology.