Clay Siegall, the Man behind Successful Seattle Genetics
Clay B. Siegall is one of the co-founders of Seattle Genetics. He is also the company’s president, CEO, and Chairman of the board. He founded the company in 1998 and built it on the foundation of scientific innovation, research, and drugs development practices as well as his passion for helping patients. He was inspired by his father who died of cancer when Clay was only 24 years old. This made him aware of the limited tools that were available to oncologists at that particular time. He is a trained scientist with an emphasis target on cancer therapies. Under his leadership, the company has entered into multiple strategic licenses for its development of antibody-drug conjugates (ADCs) technology. These licenses include with Genentech, AbbVie, GlaxoSmithKline and Pfizer that has generated more than 350 million dollars over the years.
Clay Siegall has received a B.S in Zoology from the University of Maryland and a Ph.D. in Genetics from the George Washington University. He holds 15 Patents and is an author of over 70 publications. Before founding the Seattle Genetics, he was working with the Bristol-Myers Squibb Pharmaceutical Research Institute from 1991- 1997. He also works with National Cancer Institute, National Institute of Health from 1988-1991. He serves on the board of Director of Ultragenyx Pharmaceutical, Alder Biopharmaceuticals, and Washington Roundtables. He has been given several awards including the 2012 Pacific Northwest Ernst and young entrepreneur of the Year and the 2013 University of Maryland Alumnus of the Year of Computer, Math and Natural Sciences.
Seattle Genetics has been at the forefront in conducting studies and research of human antibodies. The company manipulates and packs antibodies into drugs thus giving them therapeutic characteristics for cancer. The antibodies deliver a toxic component into a cancer cell to destroy it from the inside. This company has risen over the years to be one of the leading biotech in Washington with over 900 employees and a market value of over 10 billion dollars. The company CEO has the ambition to be amongst the companies who graduate from big biotech to pharma. The company has heavily invested in research spending over 3376 million dollars in 2016 and is expected to employ 200 more employees by the end of 2017.
Seattle Genetics had in 2016 increased its sales by 46 percent compared to the year 2014 with sales of 418 million dollars. The company stock prices have also tripled in the past five years from 20 to 66 dollars per share.