Dr. Clay Siegall is a graduate of The University of Maryland in B.S in Zoology. He is also a holder of a Ph.D. from George Washington University. He founded Seattle Genetics in 1998, a firm which specializes in the development of targeted therapy drugs for chronic diseases.
Under his Leadership, Seattle Genetics has played a big part in the therapy industry. It developed the first FDA certified antibody conjugate. The company has developed up to 20 drugs and has made a strategic partnership with other world renowned drug manufacturers such as Pfizer, Genentec, Bayer among others.
Dr. Siegall is a believer of more tolerable treatment of cancer with effective targeted drugs. He believes that conventional cancer treatment methods such as chemotherapy should be faced out completely.
Dr. Siegall’s interests have always been in medicine, technology and drive to overcome diseases and restore hope for the suffering. He was interested in cancer treatment when he was studying zoology. He was more motivated when a family member suffering from cancer suffered severe anemia due to chemotherapy. Money was also part of the motivation.
How He Makes Money
Through Seattle Genetics he makes money by selling proprietary drugs. Such drugs include the FDA approved antibody drug conjugate. The company also earns a lot of revenues from their production partnerships. Another source is loyalties from technologies and processes they have developed.
How He Handles Financial Threats
He handles financial difficulties by encouraging his team to come together and work hard. They put many strategies in place to alleviate the threat of failure. This is especially the case between 1999 and 2000 whereby the company’s operating capital was almost depleted.
How He Got His First Customer
The company has a good team of sales people. This coupled with the unique products they produce, was able to give a competitive advantage culminating into customers. He believes that good products go a long way to sell themselves.
Dr. Clay Siegall’s Professional Life
Between 1991 and 1997 Dr. Siegell was a member of Bristol-Myers Pharmaceutical Research Institute and National Cancer Institute between 1988 and 1991. He is part of the Board of Directors of Alder Bio Pharmaceuticals, Ultragenyx Pharmaceuticals and Washington Roundtable.
Dr. Siegell is a recipient of several awards. In 2012 he received Ernest and Young’s Entrepreneur of the Year Award. Also in 2013, he received the University of Maryland Alumnus of the Year in the category of Computer, Math and Natural Sciences.