It is a known fact in the medical community that when the smaller clinical trials companies have their experimental drugs approved by the FDA, they make deals with big pharmaceutical companies and leaves behind the small towns where they started out. The question that was asked to Clay Siegall when he was being interviewed about his clinical trials company, Seattle Genetics. Clay states that even though he has had one of his drugs, ADCETRIS approved by the FDA, and selling in over 60 countries, he is not ready to sell out to anyone. Here are a few things that you may not know about Clay and Seattle Genetics.
Clay studied Zoology at the University of Maryland. He then proceeded with his graduate studies and attained his Ph.D. from the George Washington University. His interest in bio-medicine started when he was younger. He watched a close relative of his struggle with cancer, and to his dismay, the medication seemed to have affected the patient more than the sickness itself. He started thinking of the possibility of developing cancer therapies which were antibody-based. The first FDA-approved medication that Seattle Genetics has come up with ADCETRIS is an antibody-based therapy which has been successful in the treatment of multiple types of lymphomas.
Clay has been at the forefront in getting Seattle Genetics the public and private funding which they have needed for various projects. For instance, he was the one who organized the IPO in 2001, and the company has been listed on NASDAQ since then. There have been other fundraising efforts, without which the company couldn’t have made it to the level of success they are enjoying. During the first year that Adcetris was introduced to the market, it brought in close to quarter of a million dollars.
The sales are expected to get better, especially with the increased effectiveness of the drug. Clay Siegall says that the company has eleven more drugs they have been testing. They have hired more staff and made improvements to their research facilities because their vision is to get a few more of these drugs approved for use by consumers.