Clay Siegall is the founder and CEO of Seattle Genetics, a company that comes up with innovations that relate to therapies for different types of Cancers. The company is based in Seattle, was established in 1988.
Dr. Siegall holds a Bachelor degree in Zoology which he attained from the University of Maryland. He also has a Genetics Ph.D. that he got from George Washington University. This solid education background together with the wealth of experience that Clay possesses have enabled him to manage Seattle Genetics excellently.
During an interview, Siegall shares the details of what made him establish the company and his journey since then. Siegall explained that the reason he was inspired to start up the company was that he had always been passionate about medicine and technology as a way to save lives of humans who suffered from terminal illnesses. Siegall further explained that Seattle Genetics does not only improve lives of those who have Cancer by selling them required drugs, but also manufactures some drugs, and this is one way in which the company generates revenue.
Another way in which Seattle Genetics makes money is through the partnerships made as well as making cash through the innovations that the highly competent and experienced team at the company comes up with. Clay says that at one point he doubted whether his company would pick up. He, however, explained that the success of the company was due to his persistence and hard work and as he continued to work, he overcame the fear of failure.
Clay Siegall attributes the success of Seattle Genetics to nothing else but hard work, not just from him, but his staff as well. He also explained that hard work without passion for what one does is useless. Lucky for him, he had both of these attributes that made him successful.
In 1988, Dr.Clay Siegall co-founded biotech company Seattle Genetics, where he is currently the President, Chairman of the Board and Chief Executive Officer. A renowned scientist trained in research of cancer therapies, he built the company based on a foundation of strong research and drug development. The team has the same passion that the company founder has for helping patients and scientific innovation. The company has a roster of over 900 employees and has a market value of almost $10 billion. Because of this, Seattle Genetics is already ranked as Washington’s largest biotech company. By adding 200 more people to its staff this year and investing heavily in marketing and research, Dr. Siegall hopes that his company can make the leap from biotech research to big pharma.
Clay Siegall’s Educational and Career Achievements
Clay Siegall received his Ph.D. in genetics from the George Washington University and his Bachelor’s degree in Zoology from the University of Maryland. Before he founded Seattle Genetics, he worked at the National Institutes of Health’s Cancer Institute from 1988 to 1991 and later the Bristol-Myers Squibb Pharmaceutical Research Institute between 1991 and 1997. He sits on the Boards of Alder BioPharmaceuticals, Washington Roundtable, and Ultragenyx Pharmaceutical. Clay has also received numerous awards, including the Pacific Northwest Ernst & Young Entrepreneur of the Year for 2012 and the University of Maryland Alumnus of the Year in Computers, Math and Natural Sciences in 2013.
Achievements with Seattle Genetics
Dr. Clay Siegall has guided Seattle Genetics to its current position as an industry leader by developing several antibody drug conjugates (ADCs) while helping to secure FDA approval in 2011 of the company’s first ADC product known as ADCETRIS®. ADCETRIS® has grown into a globally recognized brand, available in more than 65 countries around the world. Besides, the company is also developing proprietary ADCs that will be used in the treatment of cancer. Dr. Siegall has led Seattle Genetics to enter into several strategic licenses with major pharmaceutical companies for the ADC technology it develops, in the process managing to generate more than $350 million in revenues. He has also been at the forefront of the company’s capital-raising activities, helping it to secure funding amounting to more than $1.2 billion, via a combination of public and private funding. That includes the company’s initial public offering in 2001.