Seattle Genetics is a company that combats cancer using a variety of methods that deal with antibody – drug methods. The company has recently been in the middle of the largest financing round. The company announced on Monday that it was going to expand it’s public stocks from 480 million to a whopping 552 million. It will do this by exercising the over-allotment option.
Clay Siegall, the founder of Seattle Genetics, said that the reason for the increase was because of an interest from investors. The proceeds of the extra stocks will be allotted to the development of the pipeline of drugs. The proceeds will also go to making the company larger as a whole. This will happen through an enlarged focus on the people in the company as well as the infrastructure of the company.
About Clay Siegall
Clay Siegall was the co-founder of Seattle Genetics in the year 1998. He is now the President, Chairman of the Board, and Chief Executive Officer of the company. Siegall trained in the field of science. His training was focused on different types of cancer therapies. Siegall wanted to create a company that was not afraid to research and then create new cancer therapies that would improve the lives of patients in their care. His passion for helping those with cancer was the motivation and foundation for Seattle Genetics. He received his formal training at George Washington University where he received a P.H.D. in Genetics.
Siegall has been the leader of creating new anti-body conjugates or ADCs. In 2011 he received the FDA’s approval of their first ADC product named ADCETRIS. Thanks to the expertise of Siegall and his employees, the company has received more than one strategic licenses. Siegall is also well known for the works of research he has published, as well as the number of patents that he currently holds.