Clay Siegall Hopes To Propel Growth of Seattle Genetics and Expand Its Market Base
Clay Siegall is the cofounder of Seattle Genetics and acts as the firms’ president and CEO. He is also the chair of the company’s board. The headquarters of the company are in Bothell, Washington. Clay formed the firm in 1998 with the aim of generating antibody for the successful treatment of cancer. Seattle Genetics focuses on studying, developing, and packaging human antibodies into drugs. The company hopes to create powerful antibodies, which can connect to therapy and destroy cancer cells.
Seattle Genetics hopes to expand and become a global pharmaceutical firm, which Seattle biotech community has been looking forward to for a long time. Currently, Seattle Genetics has a market valuation of about $10 billion and over 900 employees. It ranks as one of most significant biotech firms in Washington. The company hopes to expand from a startup biotech firm to global pharmaceutical. The company has been investing in research and global marketing to realize the growth ambitions. The company had also hoped to add at least 200 employees in 2017. Adcetris, which provides treatment for Hodgkin lymphoma, is one of the flagship drugs for the company. Hodgkin lymphoma is a type of cancer, which affects the lymph system and can quickly spread to other body parts. If the underway tests for drug provide positive results, then the company will commence sales of the drug.
According to Clay Siegall, the chief executive officer of Seattle Genetics, the company hopes to provide multi products to global markets. He outlined the long list of drugs to company expects to generate as evidence of building a multinational company rather franchising. Siegall hopes to move the company beyond just drug manufacturing to handling challenges international marketing for both old and new drugs. In early years of the formation of the company, it raised capital for development of Adcetris through the sale of commercial rights. Seattle Genetics obtained knowledge about global markets after collaborating with Takeda Oncology. To facilitate its entry into the international markets, Siegall led the opening of new offices in Switzerland. Additionally, the company made a substantial investment in research in 2016 spending over $376 million. The company also had sales of about $418 million in the same year.
Clay Siegall is also a member of Board of Directors of Alder Biopharmaceuticals. He attended the University of Maryland for Bachelor of Science degree in Zoology. He holds a Ph.D. from the George Washington University in Genetics.