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.
The first attempt at business came with several challenges and Don Ressler was not certain whether his idea would grow to become one of the best decisions he ever made. He started his entrepreneurial journey when he launched FitnessHeaven.com on Brandettes. Although his experience in online marketing was not at the best level, he managed to make profits within the first two years. This motivated him and convinced him he would perform better if he tried a different type of business. Therefore, in 2001 he sold the company to raise money for a better idea.
While Don Ressler was negotiating the deal with Intermix Media, he came across an ambitious professional, Adam Goldenberg, who he invited so they could work together in different projects. Adam seemed to have similar ideas like Ressler and they partnered in the formation of Alena Media. Alena was focused on marketing and within three years, they banked millions in revenue.
In 2005, the duo sold Alena Media and decided it was time to get into bigger markets on prnewswire.com. They gathered all the resources needed and in 2008, they established Intelligent Beauty. Intelligent Beauty is an online retail that deals with beauty products. They have skincare and weight-loss products and over the years, the company has remained profitable.
The launch and growth of JustFab
2010 ushered in a new system that saw the duo launch a bigger and better form of business. They established JustFab, a company that specializes in fashion products. JustFab operates through a subscription system and allows members to sign up so they can receive updates on products of their liking.
To accelerate growth, JustFab borrowed $33 in 2011 from Matrix Ventures and the company managed to expand its online and offline infrastructure. Don Ressler went for additional funding from other companies in 2012 and invested in getting to other markets like Germany and Canada. They also invested in the purchase of FabKids in 2013, which operates independently using a similar platform like JustFab.