Dr. Clay Siegall is a biotech investor and entrepreneur. He is the chief executive officer and founder of Seattle Genetics, a biotech company specializing in the production of targeted therapy medicine for pathological conditions with a persistently high mortality rate. Siegal has a bachelor of science degree in zoology from the prestigious University of Maryland and a doctorate in genetic studies from George Washington University.
Under Siegall leadership, Seattle Genetics rose to the top of the targeted therapy sector by successfully manufacturing the first-ever antibody-drug conjugate approved by the United States food and drug administration. The company further holds multiple approval patents as well as a strong portfolio of over twenty drugs and strategic partnership string with other biotech players such as Genentech, Bayer, Pfizer and similar players. Seattle Genetics rose from a humble background under the leadership of Dr. Siegall to a major player in the cancer study field.
Clay Siegall traces back his inspiration to set up Seattle Genetics to his experience with people struggling with terminal illnesses such as cancer including his family members. The suffering inflicted by both the disease and burdensome therapy drove him to look for more efficient treatment with minimal or no side effects. Siegall however faithfully confesses that monetary ambitions also inspired his decision to start Seattle Genetics besides his desire to become his boss. He also opens up on the source of the company’s revenue, where he cites the company’s groundbreaking, FDA-approved antibody drug conjugate ADCetrics as their cash cow product. Other sources of income include licensing of patented technology and production partnership with other firms. Siegall, however, underscores the high risk of getting FDA approval, where the chance of approval is 1 out of 10 trials. A biotech company also demands perseverance regarding return on investment. Siegall further cites hard work as necessary to go through the long-term stagnant phase of a biotech business. The success of a Seattle Genetics further depended on a robust and knowledgeable sales staff as well as the company’s unique products. The company further invests in multidisciplinary staff to push deals including negotiators, hospitality and caterers, lawyers and technical staff for successful negotiation of lucrative contracts.