At the heart of Cascade Business Park lies the future of Seattle’s biotech community; Seattle Genetics. The company was founded in the year 1998 and ever since, it has been on its toes researching, testing, and packaging medicinal drugs. Outside the compound, there is a big human antibody sculpture made of Lego bricks. This is not just any model you would like to use for beauty purposes. No. What you may not know is that it is the symbol of what makes Seattle Genetics different from the rest.
Human antibodies are embedded deep in the heart of this company. They devised a way of using antibodies to deliver toxic substances into cancerous cells to kill them from inside.
This method is what could potentially map Seattle Genetics as one of the top biotech firms in the world. Perhaps its market value of over $10 billion and employees of over 900 can be justified by this fact. In fact, it is ranking among the top biotech firms in Washington.
Seattle Genetics boasts of Adcetris as their flagship drug. This particular drug is used to treat cancer that affects lymphatic system commonly known as Hodgkin lymphoma. The drug is still under research.
The company is shifting its focus to not developing new drugs but also taking over the international marketing of their drugs. This is the opposite of what they did before; partnered with Takeda Oncology to handle its international commercialization. CEO Mr. Siegal recently opened a new office in Switzerland to facilitate its international marketing.
Seattle Genetics is unstoppable. In 2016, its total revenue was around $418 million not to mention the stock price which increased by 46 percent from 2014.
The company trusts it, researchers. This is seen in an investment of over $376 million which is a 64 percent increase when compared to 2014 spending.
Such spending is directed mostly to a drug known as antibody-drug conjugate or (ADC). The drug targets antigens and functions by attaching themselves to cancer cells and deliver toxin into the cells to kill them. The scientists refer to it as ‘smart bomb.’ The positive thing about this drug is that it functions without causing harm to other healthy cells.
Besides the ADC, there are other 11 drugs in Seattle Genetics’ pipeline, but CEO Siegal believes four of them possess great potential. The drugs include; Adcetris used for Hodgkin lymphoma, 33A used to treat acute myeloid leukemia, 22ME aimed for urothelial cancer including bladder cancer, and LIV1 aimed at treating breast cancer.
About Clay Siegal
Dr. Clay Siegal is the founder and CEO of Seattle Genetics. He went to the University of Maryland where he received his undergraduate degree and later a doctorate from the George Washington University. Dr. Siegal has an extensive experience of over 20 years in cancer research as well as therapeutic drug manufacture.
Dr. Siegal is an exemplary entrepreneur who has defied all the odds to emerge successfully.