The cancer research center, settle genetics, which trades as SGEN on NASDAQ is set to try out 12 new drugs and also to go on a hiring spree for 100 new employees. The goal that the company has in mind is widening the use of their current drug and also creating new drugs. This comes after a visit by the vice president Joe Bidden to the facility.
These developments are evidence of the level of drive that the company is operating under and also the role of the city as a center for research on cancer. Currently, the center has been trying their first drug to be commercialized for other cancer treatment situations. Currently, there are close to 70 other types of lymphomas that the drug is being tested on.
In specific, the company has been conducting a phase three, the advanced clinical trial stage for a Hodgkin lymphoma that has been newly discovered and hasn’t been treated before. They believe that this is the trial that will have the biggest impact on the company this year, whether successful or not.
So far, the drug has been a huge success in the treatment of lymphomas. Last year alone, the drug raked in quarter of a million dollars in the US and Canada. It is estimated that the sales could rise to $300 million this year. Takeda pharmaceuticals are their partner in the sales of the drug in Canada. The 12 drugs that are being developed by this company do not include Adcetris. Seattle Genetics’ CEO, Siegall stated that the only information he could give about the other drugs is that one, which is still being referred to as 33A is also heading towards the third phase of testing.
About Clay Siegall
Clay B Siegall is the founder and CEO of Seattle Genetics. He is also the current CEO, president and Board chairman. He founded the company in 1998 with the aim of looking for treatments and therapies to treat cancer. He is a scientist by profession, which has given him the needed edge in the business of drug development and trials. Under his leadership, the company has mad e remarkable profits and continues to grow and get better every year.
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