Seattle Genetics strives to sell its drugs in the global market

The Siegall’s ambitions are manifested in his aspiration to go past the focus of biotech’s drug development towards taking care of all complexities of the worldwide market for its new drugs. This is a perfect repeat of what the company did during its earlier years when it sold its global commercial rights to Takeda Oncology to get funds to research Adcetris. Once he had learned about the international markets through its collaboration with Takeda, Siegall opened an office in Switzerland to let Seattle genetics conduct its global marketing.

In another emblem to its great determination to the international market, Siegall presented a proposal to utilize $2 billion to purchase the worldwide rights and commercialize a cancer drug established by Immunomedics located in New Jersey. However, Siegall was forced to withdraw the offer in May when a judge made a verdict that the transaction will not go through since there was an unrelated tussle for management over the Immunomedics’ board. However, the struggle signaled the commitment of Seattle genetics to utilize its understanding of oncology to obtain the rights to sell the new drugs in the global market.

The company has been focusing on the particular type of drug called an antibody-drug conjugate, or ADC. In most cases, the drug aims the protein molecule that triggers an immunize system to produce antibodies. The antigens attach themselves to the outside of cancer cells and other deadly disease and deliver a toxin in the cell to destroy them. The role of the ADC is to provide a payload to kill the cancer cells while not having a negative impact on the normal tissues. Typically, the approach significantly lessens the collateral damage that can result in healthy cells in when a patient is going through the traditional chemotherapy and radiation. In all the 11 drugs found in the Seattle Genetics pipeline, Siagall claims that four of them have massive potential for the most instant sales.

About Clay Siegall

Currently, Clay Siegall works as the president, CEO of Seattle Genetics, a biotech firm that specializes in the development and commercialization of innovative antibody related therapies for the cure of cancer. He is also the co-founder of the company that was established in 1998. Before engaging in Seattle Genetics, Siagall served the Bristol-Myers Squibb Pharmaceutical research institute from 1991 to 1997. He also worked at national cancer institute and national institute of health from 1988 to 1991. Dr. Siagall obtained a B.S in Zoology from Maryland University and a Ph.D. in Genetics from the University of George Washington.

The story of Eric Lefkofsky and Tempus in 3 minutes

Have you come across the name Eric Lefkofsky? If no, then you are in the right place. Eric became famous when working at Inner Workings and Echo Global Logistics. However, it is his third company that made him recognizable.Eric earned more than 1.79 million dollars with e-commerce startups but still aspired to do better. He recently started his latest company Tempus, and it has a great goal. Tempus is going to assemble an extensive genomic cancer database. With this data bank, doctors will be able to compare the DNAs of their patients so they can personalize their therapies. With this help and the best cancer specialists will be able to help cancer patients live longer or even get the cure.Eric realized that modern technology is growing fast and it was fair for technology in the medical field to progress at the same speed. He figured that doctors were collecting data and they needed a way to analyze it.

Many startups are trying to find a cure for diseases due to growth in technology. The industry has therefore grown because it is not expensive to conduct tests as it was before. However, despite all this Eric trusts that Tempus is advantageous over other companies.To ensure that Tempus remains on top, they collaborated with several hospitals. They work together to collect massive amounts of data. Tempus has built a 20,000 –square-foot lab to enable gene-sequencing lab. They provide their specialists with software that allows them to make comparisons of DNA profiles of cancer patients. Through this, they will find cures that would work best for patients with detailed hereditary profiles.

In 2015, Eric quit being the CEO of Groupon to concentrate on building Tempus into a global firm. However, he is still the chair of Groupon and the largest shareholder. His first action as the Tempus leader was to hire Kevin White who is highly skilled in the genetic industry.In conclusion, Eric co-owns Tempus with his business partner Brad Keywell. They have worked together in many business ventures as well.

The Revolution of the Cancer Treatment Industry with Clay Siegall

Clay Siegall founded the Seattle Genetic in 1998. Seattle Genetic specializes in developing therapeutic drugs for diseases and infections, which have not experienced significant mortality improvements. Siegall holds a degree in zoology from the University of Maryland. He also has a Ph. D in Genetics from George Washington University.

 

How Clay Siegall Got Started In the Business and His Inspirations

 

In an interview with the Inspirery, Dr. Siegall explained that his passion for medicine began when he was a young boy. He was specifically intrigued by the advanced technology and wanted to leverage and create drugs that overcome diseases, normalize the course of nature, and reinstate health to patients whose fate would have been death. His interests in cancer treatment were deepened after witnessing his close family member develop acute anemia from chemotherapy. He observed that cancer treatment was very brutal back then, and often patients died from the treatment rather than from the diseases itself. He noted that some treatment options such as amputations and radical surgery were rather too extreme. The need to provide advanced and more tolerable treatment methods drove him to start Seattle Genetic.

 

Steps Made In Drug Development

 

Seattle Genetic firm has developed premium and FDA approved conjugate antibody drugs. The drugs have at least three approved indications and a string of over 20 drugs. Also, Clay Siegall has developed a strong network of strategic partnerships with global drug manufacturers such as Pfizer, Bayer, and Genentech.

 

Clay Siegall has grown the firm from a small startup with a few researchers to a globally recognized player in the cancer research industry. He has invested in cutting edge technology to help increase the number of potential indications of the existing and new drugs. The company is well positioned to transition into the 21st-century drug manufacture industry with authority.

 

How the Company Makes Money

 

The company has multiple streams of revenue. First, is from the sale of their proprietary drugs. The first FDA approved conjugate antibody drug has three indications already. The company also earns revenue from licensing their processes and technologies to other companies. Clay Siegall has made meaningful partnerships with other drug corporations and manufacturers, which also bring substantial revenue to the company.