Clay Siegall is the founder of the Seattle Genetics where he holds the position of the CEO. The company specializes in the formulation and development of drugs for diseases that have seen little to almost no improvement in the mortality rates such as cancer. The company also develops biotech technology that they sell to its clients.
Clay Siegall in an interview said that he was always interested in medicine, but when one of his family members had cancer, he saw first-hand the problems that chemotherapies bring with itself. It was at that particular time that he got interested in cancer treatment. While he was working with an organization after completing his studies, he was disheartened that even after working hard, all the patents are under the name of the organization. One of his patents earned $80 million in a year, and he didn’t receive any money from it. It was then when he decided to start something of his own, and he set up Seattle Genetics with other researchers.
Clay Siegall was asked how his company made money and he answered it promptly. He said that the company sells its proprietary drugs. They also earn money by selling licensing for their processes and technologies that they develop. He also believes that since the FDA takes a lot of time to approve drugs, it is important for them to find revenue sources from other places and they are doing great in this regard. He also talked about the time during 1999 and 2000 when the company’s operating capital was decreasing. But, the company managed to stay afloat and is one of the successful biotech company in the United States.
Clay Siegall wants to take the company to new heights and already have a big plan set for it. The company has many drug development projects in the pipeline and are looking to become an authority in the drug development industry. He also aims to develop newer treatments for cancer as the chemotherapies being used today do not provide much value to the patients. He wants to replace the therapies by effective cancer drugs.