According to Dr. Clay Siegall, systemic chemotherapies in cancer treatment will soon be a thing of the past. He believes that with the advancement of medical technology, targeted drugs will be the order of the day. It is such thoughts that inspired him to found Seattle Genetics. Seattle Genetics is a biotechnology company dedicated to the synthesis of targeted therapy drugs. These are drugs meant for diseases where significant progress in alleviating mortality has not been made over time.
Seattle Genetics generates income by selling its proprietary drugs and production partnerships. The licensing of their processes and technologies is also another important income generator. After its initial public offering, it took Seattle Genetics about a decade to become profitable. In the first two years of inception, the company went through financial difficulties with their capital facing depletion. Under Dr. Siegall’s leadership, they were able to batter down the situation, returning the company to normalcy.
As Dr. Seagall puts it, their business model included the use of highly skilled salespeople who pushed their products. The uniqueness of their products also did the selling pushing them to where the company is today. Seattle Genetics has since grown and can close deals worth seven or eight figure sums at a go. The success is owed to the fact that Seattle Genetics is built on a very strong foundation.
The strong foundation comprises rigorous research, a drive to help patients, and scientific innovation geared towards better medical care. Seattle Genetics has also developed strategic partnerships with major players in the drug industry. Pfizer and Bayer are among the many companies it has partnered with.
About Dr. Clay Siegall
Dr. Clay Siegall majored in Zoology at the University of Maryland. He went on to earn a Ph.D. in Genetics at the George Washington University. He currently works as the CEO and Chairman of the Board of Seattle Genetics, a company which he co-founded. He has overseen the company’s growth into a leader in antibody-drug conjugates production.
Apart from working with Seattle Genetics, Dr. Siegall has a number of other positions. He is on the Board of Directors Ultragenyx Pharmaceutical. He also holds a similar position at Mirna Therapeutics and Alder Biopharmaceuticals Inc.