Seattle Genetics is a biotech company based in Seattle specializing in developing therapeutic drugs for chronic diseases. The firm was founded by its CEO Dr. Clay Siegall in 1998. It has grown over the years to become a major player in cancer research. Seattle Genetics has expanded its drug portfolio to over 20 different drugs, and others are under development. The firm has also made other strategic partnerships with big players in the industry such as Pfizer, Bayer, Genentech and many others.
In an interview about what inspired him to start Seattle Genetics, Dr. Clay has a couple of reasons. First and foremost it was his interest in medicine. His desire to use medicine and technology to alleviate suffering and restore to health those who have lost hope due to the kind of diseases they are suffering from. This was necessitated by the fact that a family member suffered from cancer and the kind of treatment administered to him was so brutal that he nearly died from the chemotherapy rather than the cancer itself. Other reasons that drove him were money and need for recognition and being his boss.
Apart from helping the sick, Seattle Genetics makes money in different ways. First is through the sale of their proprietary drugs such as their FDA approved antibody drug conjugate (ADC). The company also earns revenues through production partnerships and by licensing and patenting their processes and technologies.
According to Dr. Siegall, the company normally does mega deals of millions of shillings. These deals are attained by dining, wining and spending a lot of time negotiating with their prospective clients. This is done by the company’s great team of salespeople with some background information in biotech.
About Dr. Clay Siegall
He is the founder and CEO of Seattle Genetics. Prior to founding the company, he was working at Bristol-Myers Squibb Pharmaceutical Institute between 1991 and 1997. He also worked at the National Cancer Institute and National Institutes of Health between 1988 and 1991. Dr. Clay has a Bachelor’s of Science degree in Zoology from the University of Maryland and a Ph.D. from George Washington University in Genetics.
In 2013 he was appointed the outside Director to the Board of Directors of Mirna Therapeutics. He is also a member of the Board of Directors in Alder BioPharmaceuticals. Dr. Siegall has authored more than 70 publications and had 15 patents to his works.