One of the biggest companies in Washington is Seattle Genetics. The biotechnology company was only founded 18 years ago and has already amassed a valuation of close to $10 billion. Additionally, it also employs an estimated 900 employees that could likely rise to 1100 by the end of this year. The company has only had one CEO throughout its 18-year existence, Clay Siegall. The man who also doubles as the company’s President has been credited by many for its recent.
What Seattle Genetics has accomplished under the stewardship of Dr. Siegall has been nothing short of fascinating. He successfully guided the company through its initial public offering (IPO) in 2001. Also, the company’s flagship product, Adcetris, was among the earliest cancer-treating antibody-drug conjugate (ADC) drug to receive FDA approval in the market. Owing to the success of Adcetris and wanting to grow the company further, Dr. Siegall saw an opportunity to source the financing from strategic licensing agreements for its ADC technology with larger market players. As a result, the company has worked with Pfizer, AbbVie, and GlaxoSmithKline, allowing it to generate more than $300 million in revenues. The success of this licensing agreements is also seen in the fact that today Seattle Genetics has more than 20 cancer-treating antibody-drug conjugates in various stages of drug development.
Before going on to co-found Seattle Genetics, Clay Siegall had a very eventful and successful professional career. His previous job was at Bristol-Myers Squibb Pharmaceutical Research Institute where he worked for about six years. Before that he worked as a scientific researcher at the National Cancer Institute for three years. In addition to his B.S. in Zoology he received from the University of Maryland, he has also received a Ph.D. in Genetics from George Washington University.
Dr. Siegall sits on the boards of some companies. He has been a Director of Alder Biopharmaceuticals Inc. for the last eleven years. He has also been a Director of Mirna Therapeutics, Inc. for the last four years. Finally, he has since 2014 served as a Director on Ultragenyx Pharmaceutical’s board. His time serving in this capacities has also coincided with a number of awards he has received. The most significant of these awards include one from Pacific Northwest Ernst & Young, which declared him the Entrepreneur if the Year. He also received another from his former school, the University of Maryland, declaring him the Alumnus of the Year for computer, Math and Natural Sciences.