On a recent forum, Clay Siegall stated that stated that Seattle Genetics is an emerging global multi-product Oncology institution. The reason behind the statement lies in the long list of products the company has under development and the already developed ones that are in the market. Seattle Genetics, unlike other companies, is focused on creating a great enterprise rather than branding itself as a significant biotech company, a mistake most firms in the industry does.
Siegall’s ambition goes way beyond running a biotech company that focuses on drug development. Currently, he is hoping to expand Seattle Genetics services to cover and handle the complexities that arise in international marketing of new medication the company is now developing.
The move by Seattle Genetics comes as a surprise to many as earlier in the year; they sold its international commercial rights to a different company. The powers they sold to Takeda Oncology was done for the sole purpose of raising sufficient capital to fund the research of Adcetris.
On learning about international markets through his partnership with Takeda Oncology, Siegall decided to set up an office in Switzerland with the purpose of enabling Seattle genetics to carry out its independent international marketing.
To demonstrate Seattle genetics commitment to the global market, Siegall offered a bid back in February to acquire the international rights that will enable his company to commercialize a particular cancer drug which has been developed by Immunomedics, a biotech firm from New Jersey. The bid Siegall made is valued at $2 billion.
Due to the ongoing struggle for the control of the Immunomedics board, the court ruled that the deal could not be closed, this led to Siegall withdrawing his bid in May. Even though things didn’t turn out as expected, the efforts made to acquiring international rights signals Seattle Genetics dedication to using the knowledge they have gained in Oncology to produce and develop new drugs for the global market. Seattle Genetics has 11 drugs under development, four of them have a potential for immediate sales, stated Siegall.
Clay Siegall is the current president of Seattle Genetics; he also serves as the company’s Chief Executive Officer. At Seattle Genetics, Siegall is the chairman of the board of directors. He co-founded Seattle Genetics back in 1998. Under his leadership for almost two decades, Seattle Genetics has created a diverse Pipeline of cancer therapies based on the use of antibodies. One such antibody-based treatment is the ADCETRIS which in 2011 got an accelerated approval by the United States Food and Drug Administration.