Settle Genetics is situated at Cascade Business Park. Founded in 1998, the company study’s manipulates and packages drugs for the bio tech industry. The company hopes to graduate from a biotech company to a company to reckon with in the pharmaceutical industry. To achieve this, it has invested heavily in research and marketing.
The company market value is at $10 billion, and it has 900 employees, and it is one of the largest biotech companies in Washington. Under the leadership of Clay Siegall the company’s president, chairman, CEO and co-founder, the company has a list of drugs on its pipeline that it hopes will become a great success.
The company ambition to become a global pharmaceutical firm can also be seen in the desire of the enterprise to not only develop drugs but also to handle international marketing complexities of the drugs. Through its partnership with Takeda Oncology, the firm has learned about the global markets, and it has opened a new office in Switzerland that allows it to do international marketing of its drugs.
In February this year, the company’s bid of $2billion to gain worldwide rights for commercialization of a cancer drug developed by Immunomedics showed another sign that Settle Genetics was committed to reaching the global market. Although the firm withdrew the offer after it was ruled the deal could not close due to a struggle to control the board of Immuno medics, the move showed that Siegall was committed to acquire new drugs rights and market them to international markets.
Although the company has not made any profits yet, its sales have risen over the years, and its share price has tripled from $20 to $60 in the past five years. Settle Genetics focus is on antibody-drug conjugate or ADC and four of such drugs that have potential include adcetris which has been approved by FDA. Adcetris is used as the second or third line drug for Hodgkin lymphoma. A clinical study done to compare the drug with standard therapy for newly diagnosed patients could see the drug become the first therapy if results from the study expected in the year are favorable.
The 33A is another drug that targets acute myeloid leukemia. The third drug is 22ME whose target is bladder cancer, and the fourth is LIC1 for breast cancer. Siegall’s aim is to focus on the goal and though he admits that making drugs has never been an easy task he hopes the company can continue on its progress of making drugs against cancer.
This Man Clay Siegall
Clay Siegall serves as the CEO, Chairman, and president of Seattle Genetics. Through his leadership, the firm has built several cancer therapies which include ADCETRICS which was approved by FDA in 2011.Through his guidance, Seattle Genetics has secured more than $330 million capital from public and private companies.
The company has also entered into various partnerships including with Genetech, Curagen, Bayer, and Progenics that has seen more than $65million of sales generated from 2001. He has over 20 years’ experience in development of therapeutic drugs and cancer research. He admires and has used some of Aet Levinson moves with biotech Genetech to structure Settle Genetics, and his decision to diversify his financing to more than one drug research has seen the company continue to grow.