CEO and president of biotechnology company Seattle Genetics is feeling good about the future of his company. The company recently welcomed vice president Joe Biden as he toured the cancer research business community located in the Puget Sound region of Washington state. Seattle Genetics has helped put the Puget Sound, located just outside of Seattle, as a center for cancer research.
Seattle Genetics is currently looking at expanding the use of its only patented and approved drug so far called Adcetris. This is a drug that uses antibody-drug conjugates to help fight off cancer. Antibody-drug conjugates are an exciting breakthrough in cancer research and treatment because they specifically target cancer cells. These drugs do not harm healthy, living cells. This helps minimize side effects and increase the chances of recovery.
Currently Adcertis is used to treat lymphomic types of cancer. CEO Clay Siegall says that he wants Adcetris to have an expanded role in the treatment of lymphomic cancers. Seattle Genetics has thus arranged over 70 different trials of the drug for the treatment of various types of lymphomic cancers. There is also a trial on how Adcetris can be used as a frontline drug for newly discovered Hodgkin’s lymphoma.
Clay Siegall has stated that the results of these trials could have enormous impact on the company. Expanded use of Adcertis would greatly boost sales and help the Bothwell, Washington based biotech company finally turn over a profit. CEO Clay Siegall is not hedging on Adcetris alone though. The president of Seattle Genetics says that the company is currently working on developing 12 different kinds of new drugs.
One of these drugs is currently nicknamed 33A and can be used to treat severe myeloid leukamia. 33A is expected to go into Phase B of clinical trials and if approved and proven effective can be another source of revenue. Dr. Siegall also revealed that Seattle Genetics is working on a drug to cure breast cancer and two new drugs that can fight bladder cancer.
Clay has estimated that Seattle Genetics will hire almost 100 employees in the Seattle area for 2016 and an additional 20 in Europe. The company is also expected to purchase new facilities as it outgrows its current ones.