Among the biotech firms based in the United States, Seattle Genetics stands among those that have contributed enormously to the development of cancer therapy drugs. The man behind this institution is Dr. Clay Siegall who is the founder and chief executive officer. Siegall graduated with a degree in Zoology from the University of Maryland. Later, he attended George Washington University and graduated with a Ph.D. in genetics.
In a recent interview, Clay Siegall said that the inspiration that led to the start of this institution laid first in his passion. According to him, he always had a particular interest in medicine, and the power technology holds over disease. He always desired to intervene in nature’s course and bring health to those consigned to death by nature. Siegall first interest was in the cancer therapy. It was after a brutal treatment of a relative that drove him to start the research into the disease. He says that the chemotherapy was so brutal that at a point, it caused anemia almost killing the patient. With alternative options offering no help, he resolved to find a better way. Going to this business of research has catapulted him to the person he is today.
According to Siegall, there are several ways in which the company makes money. First, it’s through the sale of proprietary drugs. The company does very well on the sale of antibody drug conjugate that is FDA approved. However, the organization also acquires money from production partnerships and licensing of technologies. Alternatively, they have several sources of revenues through which they get money. Clay continues by adding that the company became profitable ten years after the IPO.
Among the challenges that Clay faced came in 2000. The capital was depleting faster than the income they generated. They managed by working extra harder. They have a sales staff that do the marketing. Through a lot of interaction, they land the right buyers. Ultimately, it’s through hard work and passion that he achieved
Over the years Clay Siegall held several positions in different organizations. At Mirna Therapeutics, he served on the board of directors. The chairman of the institution regarded Siegall Knowledge as invaluable and would benefit the organization. At Ultragenyx, he also held a position on the board of directors. At 40’s he advises aspiring entrepreneurs to commit, interact and work with passion as they are key to prosperity.