Seattle Genetics, a biotech company, is on the brink of expansion. Most recently, the company has increased its stock options to over 5 hundred million. This amount, according to CEO Clay Seigall, is due to an overwhelming interest and support by investors. The company is projecting a significant amount of growth in the coming years, stating a projected job growth, as well as a need for real estate expansion.
The company was founded in 1998, though they have not yet become profitable. However, it is not uncommon for biotechnology companies to be slow to turn around to profit. They are banking a significant amount of their future success on their cancer drug, Adcentris. Adcentris is responsible for over half of the companies revenue at this time. The company plans to increase their sales of Adecentris, as well as up the sales of its other products.
Clay Seigall was one of Seattle Genetics’s co-founders and has been a guiding force in the company’s fast moving growth. Seigall has assured the company lay its foundation in scientific innovation with a goal of patient health. In order to move forward in this powerful initiative, he has also seen the company through a highly successful process of private and public financing. Before coming to Seattle Genetics, Seigall acquired a PhD in Genetics from George Washington University.
Prior to co-founding Seattle Genetics, Clay Seigall worked for the Cancer Research Institute and Bristol-Myers Squibb Pharmaceutical Research Institute. Since then, his keen focus on cancer antibody therapies has brought him to the forefront of an industry that is shaping the healthcare industry. It is through Seattle Genetics’ pipeline that Seigall is able to bring a wealth of health innovations to patients throughout the country.
As Seattle Genetics continues to growth, they are looking to expand the use of their current pharmaceuticals, including varied additional uses for their top-selling drug Adcetris. The growth of Seattle Genetics and expansion of their product pipeline will likely have significant positive outcomes for many patients. While Seattle Genetics is focused on the scientific side of cancer, their work has the ability aid million.