In 1998 Clay Siegall co-founded Seattle Genetics and serves as the CEO and President. He is a scientist with a focus on the development of therapies to target cancer. Seattle Genetics was built on the principles of rigorous research, scientific innovation, top drug development practices and the passion to help. Clay Siegall is responsible for the leadership position of the company regarding the development of antibody drug conjugates to treat cancer.
Seattle Genetics has obtained strategic licenses due to Clay Siegall’s leadership. This includes Pfizer, GlaxoSmithKline, AbbVie and Genentech. Well over $300 million has already been generated. The technology of Seattle Genetics is being used in clinical development by over 20 ADC’s. Clay Siegall is the leader for raising capital and the public and private financings total $675 million. This includes the 2001 public offering for the company.
The heart of Seattle Genetics are human antibodies. The drugs that have been developed are created to destroy cancer cells from the inside. Seattle Genetics market values is almost $10 billion and they have 900 employees. Their ambition is to go from biotech to big pharma. Their investments in marketing are heavy and the expectations are there will be 200 additional employees this year.
The flagship drug is called Adcetris and treats Hodgkin lymphoma. This cancer attacks the lymph system and often spreads to the other organs. Clay Siegall wants to go beyond drug development and begin marketing new drugs internationally. This is the opposite of the company’s beginning when the rights to Takeda Oncology were sold internationally for the capital necessary to research Adcetris. Seattle Genetics is now handling their international marketing. Seattle Genetics is growing with $418 million in sales in 2016.
Seattle Genetics has eleven drugs in their pipeline. Four have the potential necessary to sell immediately. The FDA has already approved Adcetris. Clay Siegall is predicting annual sales of $1 billion. This drug may be used as the first therapy by oncologists depending on the results of the testing. The price has become a political hot spot. The cost for the yearly Adcetris treatment in 2016 was $230,000 to $330,000.
The second big drug is 33A and the target is acute myeloid leukemia. This type of blood cancer has few treatment options. The third is called 22ME. This drug treats urothelial cancers including bladder cancer. The fourth and final drug treats breast cancer and is called LIV1. The spotlight is on these four big drugs. The size of Seattle Genetics is a favorable reflection on the Washington state biotech ecosystem.