Seattle Genetics was founded by Dr. Clay Siegall in1998. He is the CEO, Manager, and Chairman of the biotechnology company based in Bothell, Washington. He attributed his desire to establish Seattle Genetics on his personal experience with cancer. He has a relative that had cancer, and the treatment caused the patient a lot of agony and complications. This sparked Dr. Siegall desire to find better treatments for diseases that have not seen any improvements in mortality rates over the years.
Dr. Clay Siegall points out that the producing drugs and getting them licensed are a long and costly process that the manufacturer must pay for. That noted, going through the process and paying for it does not mean they will get the drug FDA approved. He explains that Seattle Genetics then makes money from selling the drugs they make, collaborating on production and through licensing of procedures and technologies.
The company faced financial challenges in 1999 and 2000, but Dr. Clay Siegall emphasizes that the best way to deal with setbacks is hard work. Making deals that involve large sums of money means that to drum up business they must have a lot of meetings, lengthy negotiations and wining and dining the new clients. He believes that his success specifically is due to a passion for hard work.
About Clay Siegall
Dr. Clay Siegall underscores the importance of an individual’s willingness to work pointing out that things like intelligence and where you went to school should come second. He attended the University of Maryland where he graduated with a Bachelor of Science degree in Zoology. He went on to the George Washington University where he got his Ph.D. in Genetics. He worked at the National Cancer Institute from 1988 to 1991 as a Staff Biotechnology Fellow.
He then went on to Bristol-Myers Squibb Pharmaceuticals Research Institute where he was a Senior Research Investigator. Dr. Clay Siegall has been on the Boards of various Pharmaceutical companies including Alder Pharmaceuticals, Fred Hutchinson Cancer Research Center and Mirna Therapeutics. Seattle Genetics’ ADCENTRIS was FDA approved in 2011. He has 15 patents and has over 70 publications to his name.