Vice President Joe Biden recently visited the Puget Sound Cancer Research Center. His visit was followed by a lot of talk about Seattle Genetics. Seattle Genetics is among the fastest growing companies in the region. SGEN continues to work around the clock to widen the consumer base and to launch new drugs. The administration is also said to be on a hunting spree for new talent to join their staff.
Drug with a Huge Impact
SGEN is the ambitious company behind the cancer treatment drug known as Adcetris. The lymphoma-targeting drug has undergone extensive clinical trials. So far it has more than 70 trials. According to the CEO Clay Siegall, they are on course to conducting Phase 3, or advanced, clinical trial runs which utilize Adcetris as the front-line treatment of Hodgkin lymphoma.
Last year, the drug had sales totaling up to $226 million in the US and Canada markets alone. The sales figure is expected to surge upwards to between $255 million and $275 million in the same markets, according to insiders. Selling the drug outside North America will be left to their partner, Takeda Pharmaceuticals. Asides, Adcetris, the company, has a total of 12 drugs in the pipeline.
In the coming months, SGEN hopes to take their experimental drug known as 33A into Phase 3 clinical trials. This drug aims to treat acute myeloid leukemia. They have yet another new drug still in the works, and this one aims to treat breast cancer. Other drugs approaching clinical trial stages are designed to heal bladder cancer. Consumers ought to brace themselves for a substantial amount of data on those three drugs, Siegall remarked. The establishment plans to add 100 employees in the U.S and 20 in their Switzerland offices. The firm currently employs well over 800 employees.
About Clay Siegall
Dr. Siegall is the president, founder, and the CEO Seattle Genetics. The pharmaceutical company was started in 1998, and its portfolio contains a diverse range of clinical and preclinical drugs and treatments for a wide variety of cancer types. So far, the company has secured more than $300 million in financing from both the private and the public sectors. SGEN’s IPO was done in 2001. Dr. Clay holds a Ph.D. in Genetics from George Washington University and a B.S in Zoology from the University of Maryland.