In the past few years, Seattle Genetics has been one of the most talked about biotechnology companies in Bothell. This is attributed to the exponential growth sparked by large financing rounds. The latest announcement indicates that they plan to increase public stock offering from $480 to $522. To achieve this, President and CEO Clay Siegall is keen to explore the over-allotment option.
An overwhelming interest from investors is another factor that has contributed to the company’s growth. Investors are particularly keen to fund the growth of both human resources and infrastructure. This is beside the earlier announcement that the CEO also plans to invest more in the drug pipeline and enhance the flagship cancer drug, Adcetris. This is a blueprint that will see the company hire more than 100 people every year over a five-year period to bring its total number of employees to about 1300 before 2020. They also plan to acquire more space in Bothell to accommodate this growth.
The company has been operational since 1998 and wants to be a leader by offering innovative products based on a unique operation model. However, the CEO still considers this company as one which is still budding, and that is why he is more focused on the long-term goals as opposed to short-term ones.
Clay Siegall’s Journey to the top
Most people may not have known much about Dr. Clay Siegall until recently when his company started dominating the news. For instance, he has been a member of the board of directors at Mirna Therapeutics Inc. since January 2013. The B.S. in Zoology holder from the University of Maryland also worked at the Bristol-Myers Squibb Pharmaceutical Research Institute, National Cancer Institute and National Institute for Health before joining Seattle Genetics. Apart from the University of Maryland, he studied genetics at the George Washington University.
Being a scientist by training and having a strong liking for targeted cancer therapies are just some of the many qualities that have made Dr. Siegall an achiever at Seattle Genetics. He says that he always believes in rigorous scientific research, and drug development practices, factors he says are vital to the growth of this company.