Making it big in the pharmaceutical industry, Clay Siegall
Seattle Genetics, founded in 1998, is a pharmaceutical and biotech company that also researches on human antibodies, their manipulation and in the long run packaging into drugs. Clay Siegall is the company’s founder, president, chairman and CEO. The company’s antibodies function by transmitting a load of toxicity to the cancer cell, destroying it from within. The antibody research in itself can lead to the immense growth of Seattle Genetics and have it in the top-ranked pharmaceutical companies.
The company at the moment ranks as one of the biggest biotech companies in Washington with over 900 employees and expects to recruit 200 more this year. The company has a market value of about 10 billion dollars and invests significantly in research. Siegall desires the company to go beyond drug development and advance in international marketing of its’ drugs.
Seattle Genetics is a fast growing company, having sales of about 418 million dollars in the year 2016, which is 46% higher as compared to the sales made in 2014. The company has concentrated on a drug type referred to as an antibody-drug conjugate (ADC). ADCs aid in the elimination of cancer cells without necessarily harming the healthy tissue. Adcetris, Number 33A, 22ME, and LIV1 are drugs that Siegall says have the potential for making the most instant sales.
Siegall comments that the journey is never too easy, but that won’t deter him from attaining his goals. He incorporated some ideas from Art Levinson’s biotech company, Genentech. From Genentech, he noticed its structure and also not to place all his bets on one or two drugs.
Dr. Clay Siegall attended the University of Maryland where he attained a Bachelor of Science degree in Zoology. After that, he went to George Washington University where he obtained a Ph.D. in Genetics. He worked with some institutions before founding Seattle Genetics, for example, the Bristol-Myers Squibb Pharmaceutical Research Institute. In addition, at Alde BioPharmaceuticals, he is on the Board of Directors. Siegall is an author and has over 70 publications and holds 15 patents.