Dr. Clay Siegall is, plainly put, the Enemy of cancer. His company, Seattle Genetic, is one of the leaders in cancer researching, partnered with the most notable pharmaceutical companies (Bayer, Pfizer, Genentech, and so forth.)
Beggings Of Seattle Genetic
Dr. Clay Siegall has always been interested in medicine. He has a B.S. in zoology and Ph.D. in genetics. When he was pursuing his B.S. at the University of Maryland, he became interested in cancer studies. But he got chiefly involved when his family member got sick, saying that the member almost died from chemo, not cancer!
The alternative to chemo was amputation, the greater of two evils. So, Dr. Clay Siegall decided to act, with the mission to a more humane and effective way to treat cancer.
Being Your Own Boss
Dr. Clay Siegall doesn’t deny financial interest. In the beginning, he didn’t have that much authority over his work, even though he was a senior researcher. Nevertheless, Dr. Clay Siegall kept his composure, even though he received little to no praise for his contribution; this was when he decided to create Seattle Genetics.
According to Dr. Clay Siegall, Seattle Genetics makes money by licensing technology the company develops. But the biggest incomes come from the sales of their propriety drugs. The only problem with selling propriety drugs is getting them approved by the FDA, which is a long and painful process.
Dr. Clay Siegall doesn’t deny the potential for profit but also points out the enormous amounts of risks and massive levels of responsibility. Then again, that is what it means to be your own boss.
Wining And Dining
Seattle Genetics makes 7-8 digit contracts through the old American process of wining and dining, which includes a lot of meetings, dinners, and negotiations. In his interview for the Inspirery, Dr. Clay Siegall pointed out a couple of things behind the company’s success, including hard work, determination, a strong legal team, and passionate/knowledgeable sales staff.
On Dr. Clay Siegall
Dr. Clay Siegall started his cancer treatment researching career in National Cancer Institute (in 1988), where he spent three years. He then moved to Bristol-Myers Squibb Pharmaceutical Research Institute in 1991, where he spent more than six years. During his time there, Dr. Clay Siegall helped develop advanced cancer treatment methods.
He founded Seattle Genetics in 1998. During his leadership, he generated more than $675 million for the company (via “wine and dine” method) Also, during his time as the CEO of S.G. the company developed several antibody-based cancer treatments, of which one (ADCETRIS) was amiably accepted by the FDA.