Dr. Clay Siegall is the brain behind the successful Seattle-based biotech firm, Seattle Genetics. While speaking to inspirery, he was questioned on how he started his business. Clay responded by saying that he was always interested in medicine and technology, in addition to having the urge to overcome diseases, and restore people’s health.
He recalls that his interest in cancer treatment started while he was a student of the University of Maryland pursuing zoology. Siegall remembers that one of his family members was taken ill. The doctors prescribed a brutal treatment regimen. The patient suffered anemia and almost died from the chemotherapy, but not cancer. To this end, he told himself that there has to be a better way of dealing with cancer.
Clay contends that the aspect of money also played a role in making him establish his own firm. He says that at one point he realized that a patient grossed $80 million, but all that he received was his paycheck. He adds that it is preferable that one is his or her own boss. Clay posited that he makes money through a number of ways. Seattle Genetic’s proprietary drugs have bringing in huge profitability margins to the company. The executive posits that their first FDA-approved antibody drug conjugate, ADCetris, was the first ADC to be approved by the FDA. He noted that one out of ten candidate drugs are approved. In addition, the entity earns revenue from licensing its technologies and engaging in production partnerships.
About Clay Siegall
The executive contends that Seattle Genetics specializes in developing targeted therapy drugs for various diseases that have not had mortality improvements in years. Through the visionary leadership of the alumnus of the George Washington University, Seattle Genetics has been able to grow from a small agency to a power house on cancer research. Dr. Clay Siegall continues to develop viable drugs with the objective of positioning the company in the drug development industry.
Notably, Siegall has facilitated many strategic partnerships with renowned drug manufacturers, including Pfizer, Genentech and Bayer. He remains optimistic that the old-guard of cancer treatment, systematic chemotherapies, will soon be a thing of the past. This is because of the efficacy and enhanced value of targeted therapies.