Seattle Genetics is a clinical trials company that was started in 1998. The company was started by Clay Siegall with the vision of making drugs, medications and treatment therapies that could help cancer patients. In the length of time that the company has been operational, there is a lot that they have achieved including getting one drug approved by the FDA for cancer treatment. The company started trading their shares publicly on NASDAQ as SEGEN. Below is what Clay Siegall and one of the co-founders of the company has to say about the journey that the company has been through.
He says that before he went on his way to start the company, he was a biotechnologist with several other clinical trials companies. This is what gave him the experience that he needed to start and successfully run his own business of a similar nature. After the company started, one of the main challenges that they faced was the lack of funds to carry out their activities. He recalls that his team lived from one paycheck to the next and that there were times he wasn’t even certain where the funding for the next phase of the project would come from. He adds that it took the goodwill of the people in the team that he was working with to stay grounded despite the hardships.
One of the biggest strides they have made so far is creating a drug that is effectively dealing with several types of lymphomas. In the first year that the drug was on sale, they gathered about $250,000 in sales. They have since expanded their reach and they are selling the drug to more than 60 countries all over the world. In Canada, their drug is sold by Takeda Pharmaceuticals. Clay says that the future is looking really bright for Seattle Genetics. He confirms that indeed, there are 10 other drugs that are in different stages of clinical trials and that they hope they will also get approval by the FDA. The hard work and determination that he has shown for the past two decades give people the hope that maybe cancer could get a cure soon.