Dr. Clay Siegal, a scientist by training has built Seattle Genetics on a scientific innovation foundation and rigorous research. He has steered capital-raising activities at Seattle Genetics securing over $1.2 billion through private and public financings as well as the initial public offering of the Company in 2001.
Genesis of Seattle Genetics
The primary goal of Seattle Genetics is helping patients. According to Siegal, he became aware of the limitation of tools available to oncologists as he watched his father’s cancer progression from when he was 19 to his death (while Siegal was 24). That built in him a desire towards improving those tools. After earning his George Washington University doctorate in genetics, Siegal spent some years at Pharmaceutical Research Institute of Bristol-Myers Squibb, which eventually brought him to Seattle.
Siegal’s goal is the treatment of patients suffering from cancer, and to perform better than is being currently done in terms of targeted drugs. He looks forward to each new day knowing that he is contributing something positive towards that goal.
His Winning Business Strategy
A key element of the business strategy adopted at Seattle Genetics is collaborating with several other innovators and industry leaders in the development of oncology drugs. These collaborations have effectively extended Seattle Genetics’ reach in terms of technology, allowing the Company to direct resources into new approaches and ideas.
Tips for Others
According to Clay Siegal, when in the 20s, most people think they know everything there is to know. When in the 30s, you sort of begin to realize they actually don’t. He says that now when he is over 40, he appreciates the fact that he doesn’t know much. His tip for others is to keep on learning as much they can, and to interact with people who are very smart.
About Clay Siegal
Dr. Siegall is the CEO/President and Board of Directors Chairman of Seattle Genetics, a company he co-founded in 1998. Before co-founding Seattle Genetics, he worked with the Pharmaceutical Research Institute of Bristol-Myers Squibb (between 1991 and 1997) and the National Institutes of Health’s National Cancer Institute (between 1988 and 1991). Dr. Clay Siegal has B.S. in Zoology from University of Maryland and a Ph.D. in Genetics from George Washington University.