Seattle Genetics Set to Raise Large Funds

Seattle Genetics, a company that works towards producing cancer medicines, has started their largest round of financing. This biotech company is increasing its 480 million public stock offering to 552 million through the interest from investors. This round of funding will go towards increasing their drug pipeline, expanding their cancer research, and continuing to grow the company.

Clay Siegall, CEO of Seattle Genetics, expects to hire about 100 people over the next five years. This hiring will increase the employees to 1,300. During this expansion, Seattle Genetics is looking to find other properties to accommodate their growth.

Seattle Genetic, which was founded in 1998, is has been around longer than any company. The company is not yet profitable, of the 77 million in revenue 47.5 million was lost. Siegall is not concerned about this loss because he says that they will continue with the plans to grow. It is not uncommon for Biotech companies to not turn a profit. It may take a while for them to turn a profit, even years.

Seattle Genetics is a biotech company that is geared towards medical research for cancer patients. Their focus is on antibody based therapies for the treatment of cancer. These type of treatments are less harsh than standard chemotherapy. They are dedicated to the advancement of cancer and other hard to treat diseases. They value helping patients, teamwork, and scientific excellence. Clay Siegall co-founded it in 1998 and is now the CEO and Chairman of the Board. He has guided his company through leadership of creating ADCETRIS, the leading anti-body treatment drug.

Seattle Genetics and Their CEO Clay Siegal

Seattle Genetics and Their CEO Clay Siegal
The biotechnological company, Seattle Genetics, was founded in 1998 on the premises of innovative scientific research. The founder, Clay Siegal, is a trained scientist himself, and he has a passion for developing new medicines and treatments for patients all around the world. In truth, the Seattle Genetics company is an extension of its founder and CEO in policy and practice.
Seattle Genetics
The study of human illnesses and disease is what Seattle Genetics specializes in, specifically with a focus on cancer. Their research is to find a cancer therapy that will be both effective and efficient. That is to say, their goal is to develop a fully utilizable drug therapy that will only target the cancerous cells in the body and destroy them. Current practices, like chemotherapy, lacks the efficiency due to the fact that they can also harm non-cancerous cells.
Moreover, the scientists and doctors that assist in the research are fully committed to providing the best experience for their patients. One of the company’s values is to have a ‘passion for helping patients.’ A part of this is finding a way to put the patient through a drug therapy that won’t have harmful side effects to their body.
Clay Siegal
The CEO and Founder of the Seattle Genetics company, Clay Siegal, has the same passion for his patients and the research. After receiving his PhD in Genetics from George Washington University, Dr. Siegal went on to work for both the Bristol-Myers Squibb Pharmaceutical Research Institute and the National Cancer Institute. He took both his experience and his education into the founding of Seattle Genetics.
Having already helped develop a new alternative drug therapy for cancer patients, Dr. Siegall and his company Seattle Genetics are looking further into areas that have unmet medical needs. This means that the passionate team at Seattle Genetics, and their CEO, can bring their passion and scientific integrity into unexplored genetic areas to develop treatments to both better science and improve mankind’s life expectancy!

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