Clay Siegall is the founder and chief executive officer of Seattle Genetics, a biotechnology firm specializing in the development of therapeutic drugs for cancer treatment. Dr. Clay Siegall has made his name in the medical industry with the development of the first antibody drug conjugate to be approved by FDA. Speaking during a recent interview with Inspirery, Siegall shed some light on his journey from nothing to such a spectacular milestone.
Siegall grew with interests in the medical sector. As a young boy, he consistently thought of ways of using technology to overcome diseases and restore health to those who are destined to die of the disease. Cancer treatment was his first idea. While studying at the University of Maryland, a family member almost died from chemotherapy. As a result of that incident, Dr. Siegall vowed to find better ways to treat cancer rather than chemotherapy. Although money was one of the drivers, the desire to cure cancer contributed to making Siegall, the person he is today.
The Long Journey
The process of getting a drug approved by FDA is a long one and requires lots of funding. Only one out ten drugs get approved. This shows how the process is risky. Although he has achieved a lot today, Dr. Clay Siegall’s firm made its first profit ten years after its Initial Public offer (IPO). In 1999 and 2000, Siegall Genetics almost collapsed as capital was getting depleted and the firm was not making any profits.
A Leaf worth Taking
Wining, dining, meetings, and negotiations are the source of the success of Seattle Genetics. These meetings help the firm deliberate on investment ideas that drive the company. Hard work is another instrumental driver of success. Siegall believes that all men are equal in intelligence and the only difference is their working habits.
Who Is Clay Siegall?
Dr. Clay Siegall is the co-founder of Seattle Genetics and also the firms CEO and president. Siegall graduated with a bachelor’s degree before receiving his Ph.D. in genetics from the George Washington University.
In 1998, Siegall founded Seattle Genetics on a foundation of rigorous research, scientific innovation, drug development and passion for helping patients. Under his leadership, the firm secured FDA approval for the ADCETRIC drug, which is now approved in more than 65 countries.
Over his career, Siegall has received multiple awards including the 2012 Pacific Northwest Ernst & Young Entrepreneur of the Year and the 2013 University of Maryland Alumnus of the Year for Computer, Math, and Natural Sciences.