People say that cancer has been the worst menace to the medical community for the past two decades. For the past few decades, there have been endless attempts to find therapies which would lead to the treatment and cure of cancer without the side effects which are usually brought about by current treatments such as radiotherapy and chemotherapy. When Clay Siegall established Seattle Genetics in 1998, he had the dream of creating antibody-based therapies to fight the menace.
Clay says that he drew his inspiration from an experience that he had when a close relative of his was battling cancer. He was shocked mainly because the tumor itself was not that dangerous, but the treatment made the man weak. He realized that there was a need for treatment options which would be kinder to the body and the well-being of the user. For the past two decades, Seattle Genetics has been working on antibody-based therapies.
The first of their treatments, ADCETRIS, was approved for use by the FDA a few years ago. The drug is very effective in the treatment of various types of lymphomas. It has also been approved for use in over 65 countries around the world. The drug has been doing very well in sales, in the first year that it landed in the market, it made more than $300,000 in benefits. The sales have since improved. The company has since been listed on NASDAQ as SGEN.
When asked what the next step is for Seattle Genetics, Clay stated that unlike the other smaller biotechnology enterprises that sell to big pharmaceuticals the moment they make a name for themselves, the company was not planning to sell out. He stated that the company was already preparing eleven other drugs, all aimed at the treatment of different types of lymphomas. Clay added that he had stood with the company when the times were so tough that they were not sure where the money for the next phase of their project would come from. He added that now that things were getting much better than they had been, he was not interested in selling out to anyone.