Seattle Genetics is a renowned pharmaceutical company located at Cascade Business Park in Seattle’s Bothell precinct. Clay Siegall is at the helm of this biotech company that has excelled in the study, manipulation as well as the packaging of drugs since 1998.
Siegall is the founder, chairperson, president, and CEO. He has steered the company through all sorts of upheavals. Under his leadership, Seattle Genetics has given cancer patients a new reason to hope by building a diverse pipeline of antibody based cancer therapies. One of its renowned drugs is the ADCETRIS that received approval from the US government’s FDA in 2011 that fights cancerous cells from the inside.
Siegall’s Celebrated Career
Siegall is a trained scientist specializing in targeted cancer therapies. He attended the University of Maryland for a B.S. in Zoology, and later The George Washington University for a Ph.D. in Genetics, excelling with honors. Before founding Seattle Genetics, Siegall worked in various designations in institutions such as MedImmune, the National Cancer Institute (NCI), the Curagen Corporation, Genentech, Bristrol-Myers Squibb, and the National Institute of Health, up until 1991.
In 1998, he founded Seattle Genetics with emphasis on scientific innovation drug development, conducting rigorous research, and a passion for helping patients who thought they were doomed. In his tenure, the biotech company has entered into strategic licenses for its revolutionary ADC technology, generating the company over $300 million. This money goes into research and the roll out of effective cancer drugs.
Through his leadership, he has been on the frontline to spearhead both private and public capital-generating activities, which has seen the company gain over $670 million. One worth mentioning is the IPO issued in 2001.
The company is valued at a whopping $10 billion with a muster roll of 900 employees, with an estimated 200 expected to enter its work force. Analysts project that Clay Siegall is among the few corporate heads that have the capability to transform a biotech firm into a big pharma. His ambitions are to move beyond drug development to handle the marketing of its new drugs on an international scale. Its shares have more than tripled from $20 to $66 a share, though it is yet to make a profit, its value has increased by more than 50%.
In February, Siegall made a $2 billion bid to acquire global rights to commercialize a cancer drug developed by Immunomedics, a company based in New Jersey. However, his plan was foiled by a judge due to a conflict between the members of the board to take control of the Immunomedics. He sits on the board of various companies, which has broadened his style of leadership and added to his many accolades.