Clay Siegall Optimistic About Seattle Genetics Future

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.

The Seattle Genetics’ Ambitious plans to Add More Drugs and workers with CEO Clay Siegall Approval

October 13th, 2016 — UPDATE — Clay Siegall thrives on board of directors for Mirna Therapuetics : http://www.mirnatherapeutics.com/pdfs/releases/2013%200130%20Mirna%20Siegall%20BOD.pdf


The Puget Sound area’s cancer research community is on the watch out. The cancer treatment institution Seattle Genetics (Nasdaq: SGEN) is an early maturity section of what is dividing the region.

 

What are the company’s roles?

The firm medicine company is attempting to broaden the application of its first drug. The organization is as well trying to expand its drug pipeline with current medications and starting on yet another hiring celebration.

The moves lead to Seattle Genetics’ aggressiveness and underscores Seattle’s function as a core of cancer research.

The organization is attempting out its only advertised drug, Adcetris, in more cancer-treatment situations. According to the CEO Clay Siegall, the drug is being examined in more than 70 experiments versus several kinds of lymphomas.

Seattle Genetics’ ambitious plan for 12 more drugs, 100 more employees

The Seattle Genetics firm is leading an improved clinical examination. The test applies Adcetris as a “frontline” therapy for earlier untreated or recently diagnosed Hodgkin lymphoma. Clay Siegel said that the test’s conclusions would have “by far the biggest force on the corporation” out of the examinations done this year.

 

Market value of Adcetris

Adcetris is applied broadly to resist lymphomas. The medicine racked up $226 million in U.S. and Canadian sellouts last year. Trades in those nations for 2016 will be in the range of $255 -$275 million. The information is in accordance with the firm’s statement in its recent direction for investors. The company’s associate, Takeda Pharmaceutical, trades the drug outside the Canada and U.S.

 

Is Adcetris the only drug produced by the firm?

No. Adcetris is among the many medications in the organization’s arsenal. According to Siegel, the company is producing 12 drugs at the moment. That figure doesn’t cover Adcetris.

 

The corporation aspires to introduce another drug, known as 33A, into Phase 3 clinical examinations this year. The company will apply the drug to fight against acute myeloid leukemia.

The organization has two other drugs for bladder cancer and a drug for breast cancer.

 

The firms plan to add more workers

The company is hiring in a great way. It intends to add 100 workers in the U.S. and around 20 to its office in Switzerland this year, Siegell said. It already has more than 800 employees.

 

Most of the fresh hires will be in operations, as objected to examination.

The firm’s longer-range aims are even more pretentious: Siegel said its offices have space for not just for another 100 workers, but for extra 350.

The company has been employing around 100 people a year for approximately the past five years.

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