Seattle Genetics was founded by Clay Siegall, who is also the current CEO of the company. The headquarters of the enterprise is located in the heart of Seattle. The company has for the last two decades focused on studying human antibodies, manipulating them, making, and packaging drugs that deliver a toxic payload into cancer cell to destroy it from the inside. The company is now focusing on becoming among the big leagues in the pharmaceutical industry. It boasts a market value of over $10 billion and an employee base of over 900. The company is ranked as the largest biotech company in Washington.
The company has immensely invested in the research and marketing programs and is hoping to add 200 more employees this year. The organization is now on a steep growth trajectory and based on its 2016 statistics; it was able to make sales of over $418 million, an increase of about 46 per cent compared to 2014. The same growth has also been experienced in its stock price, which has almost tripled from $20 per share to $66. The enterprise was founded 18 years ago, and it is expected to continue expanding primarily due to its substantial investment in research on several drugs that are scheduled to boost its sales and revenue.
About Clay Siegal
Clay Siegal co-founded the Seattle Genetics in 1998, and he is the current president and CEO of the company. He is also the chairman of the Board of Directors. The company has experienced tremendous growth since its initiation and through his guidance; the business has been able to build a diverse pipeline of antibody-based cancer therapies that have helped thousands of cancer patients. The ADCETRIS (brentuximab vedotin) is one of the greatest successes of the company after it was approved by U.S. Food and Drug Administration (FDA) in 2011.
Clay Siegal is a scientist by profession, and he fully understands the scope of the industry. His passion for entrepreneurship and helping patients motivated him to start the company. Through his leadership, Seattle Genetics has been able to secure several strategic licenses for some of its drug products, which have generated over $350 million for the company. He has obtained several awards due to his exemplary performance, which includes University of Maryland Alumnus of the Year for Computer, Math and Natural Sciences granted in 2013, and Ernst & Young Entrepreneur of the Year award in 2012. He is determined to explore further into the areas of medicine that have unmet medical needs to help suffering patients.