Clay Siegall leads Seattle Genetics to economic robustness
Throughout his tenure as CEO of Seattle Genetics, Clay Siegall has proven to be a formidable leader. Becoming as adept as CEO as he had been in his previous career as a biopharmaceutical researcher, Dr. Siegall has been able to successfully diversify Seattle Genetics’ revenue streams, win new clients and get a number of drugs approved by the FDA. In addition to this, he has developed an exciting new line of drugs than nobody else is currently as deeply involved in as Seattle Genetics.
After having spent the better part of a decade at pharmaceutical giant Bristol-Myers Squibb as a senior researcher, Dr. Siegall began to toy with the idea of founding his own company. This would have numerous benefits, including the ability to solely concentrate on the development and research of the type of drugs that he had developed personally while working as a senior researcher at Bristol, namely, antibody drug conjugates. These were drugs that used synthetic human antibodies to deliver highly lethal cytotoxins directly to the site of tumors, potentially reducing or completely eliminating the side effects associated with traditional chemotherapeutic regimens.
But Dr. Clay Siegall had no experience running a giant company. Between the years of 1998 and 2001, he began growing the firm, its staff and its portfolio. After having built the firm from just a staff of a few researchers into one with dozens of employees and some of the best researchers in the business, Dr. Siegall realized that he would soon need a vast infusion of capital if he wished to keep the company afloat. In 2001, he was able to successfully float the Seattle Genetics stock on the New York stock exchange, marking the largest biotech IPO in history. This was valued at more than $1.2 billion and allowed the company to suddenly find itself with enough operating capital to successfully sustain operations throughout the next 10 years.
By 2011, Dr. Siegall saw the FDA approval of its first drug, an antibody drug conjugate called ADCetris. Today, this drug is approved for use in refractory non-Hodgkin’s lymphoma, saving thousands of lives each year.