Seattle Genetics, the cancer biotech firm in Washington came into existence in 1998. The company practices scientific innovations, drug developments, and extensive studies to meet the gaps in cancer treatment. It strategizes to invest extensively in research, marketing, and human resource. The company market valuation rates at $10 billion.
Being a multi-product, oncology and global firm, Seattle Genetics strategizes on setting itself apart from its competitors. The company plans to approach the market not only in the biotech drug production but also in the international marketing of its newly developed drugs. Previous experience during the sale of the Takeda oncology brought about the invention of the new marketing model. Takeda launch earned the company revenue that supported the opening of a branch in Switzerland. The funds were too invested in the study of Adcetris the Seattle Genetics first drug.
Seattle Genetics has financed $376 million towards its research practices which raise to 64% in investment since 2014. The valuation reports indicate an increment of 50% and growth of the stock value from 20% to 60% revenue. In the year 2016, the biotech market leader recorded an income of close to $418 million, a 46% growth within two years.
Seattle Genetics has a collection of 11 drugs in the pipeline with high chances of making quick sales on four. Their first Adcetris drug for Hodgkin lymphoma was approved by the Food and Drug Administration (FDA). The primary therapy is predicted to earn the company an annual revenue of $1 billion.
Innovation of second drug that aims to treat AML or chronical myeloid leukemia is the 33A. The third drug targets urothelial cancer or cancer of the bladder. Fourth developed for the treatment of breast cancer is known as LIV1. Seattle Genetics remains focused and steady despite the political and economic instabilities. The CEO, Siegall is a consistent and committed leader who drives the business to continued cancer treatment support.
About Clay Siegall
His influencer in entrepreneurship was Art Levinson the founder of Genentech and current Apple Inc. chair. Clay Siegall faced various challenges during the development of his company but he persevered. The investor currently, owns one of the largest biotech firms in Washington. His expertise and knowledge have earned Seattle Genetics over $350 million through the acquisition of various ADC technology licenses.
Siegall is a zoology graduate from the University of Maryland and a Ph.D. holder in Genetics from Washington University. He established Seattle Genetics with a goal to meet the gaps in cancer therapy. The visionary investor intervened through his networks and raised the company more than $1.2 million during a capital- raising occasion.