Clay Siegall’s Push for Seattle Genetics

Although it isn’t mentioned as leading news stories all the time, the biotechnology industry is always undergoing some form of change. Seattle Genetic is a prime example of how this happens.

Located in Seattle’s Cascade Business Park, Seattle Genetics may not seem like much at first but beyond the LEGO-built structure is the center of what the genetics company is all about, which is the ongoing study of human antibodies. In fact, human antibodies and their importance to the human body has been what the company has not only been studying but also making into drugs since the company was founded in 1998.

Learning about how antibodies can be used for medical purposes such as killing cancer cells is a strategy that many feel could make Seattle Genetics into one of the leading pharmaceutical companies in the region. Seattle Genetics already brings in a revenue of $10 billion a year and 900 people currently employed, with plans to add another 200 employees by the end of the year, ensuring that it remains the largest biotech company in the state of Washington.

The man who is in charge of keeping the company in good shape is Clay Siegall, who serves as the chairman, president, CEO and even co-founder of Seattle Genetics. Siegall has stated that his company is “an emerging global, multiproduct, oncology company,” and he added that he’d rather build a strong company than simply sell his off to another group. In 2016, the company had $418 million in total sales, a stock price that tripled in net worth and has a value that has increased by over 50% in the last year.

Before creating Seattle Genetics, Clay Siegall attended the University of Maryland, College Park, where he earned his Bachelor’s Degree in Zoology. He later went to attend George Washington University, where he earned a Ph.D in the field of genetics.

After finishing his collegiate and graduate studies, Siegall’s first career move was working at the National Institutes of Health from 1988 to 1991 as a major team member, as well as serving as a member for the National Cancer Institute. From there, he went to work at the Bristol-Myers Squibb Pharmaceutical Research Institute from 1991 to 1997. In addition to this, he sits on the board of directors for Alder Biopharmaceuticals and the board of governors for the Fred Hutchinson Cancer Research Center.

http://seattlebusinessmag.com/business-operations/pharm-market-seattle-genetics