In an interview posted on Inspirey’s website, Dr. Clay B Siegall recounted the reasons why he founded the company, Seattle Genetics. Dr. Siegall indicates that his first reason stems from his interest in medicine from a young age. As he was growing up, he experienced the turmoil and suffering of cancer patients first hand. These experiences created in him a yearning to help cancer patients avoid the side effects of the disease and chemotherapy. Accordingly, he endeavored to utilize his knowledge in creating improved solutions for treating cancer.
In response to a question on Seattle Genetics Finances, Dr. Siegall outlined several ways in which the company earns money. These methods include selling of proprietary drugs, revenue collected from production partnerships, technology licenses, and manufacturing processes. Dr. Clay Siegall candidly admits of the risk inherent in the manufacture of cancer medicines and challenges in acquiring the FDA’s approval. He further proceeds to reveal how long it took his company to break even. Despite confronting financial problems that threatened to shut down operations the company stuck to its goal. He attributes success to the devotion of Seattle Genetics personnel, in particular, he lauds his sales staff as the most critical element of the company’s operations.
About Dr. Clay B. Siegall
He is the founder and CEO of Seattle Genetics, a company that specializes in the development of cancer treatment drugs. He earned his Ph. D in genetics from George Washington University. Under Dr. Siegall’s guidance, Seattle Genetics has grown by leaps and bounds becoming an industry leader in the development of targeted cancer drugs. Previously, he worked for seven years with Bristol-Myers Squib Pharmaceuticals, the National Cancer Institute, and the National Institutes of Health from 1988-1991. Dr. Siegall is an accomplished author and innovator with 70 titles and 15 patents.
Moving forward into the future, Dr. Siegall predicts that conventional cancer therapies are soon to be relics of the past. Dr. Siegall participates actively in Seattle Genetics fundraising activities. Since the company’s IPO in 2001, Seattle Genetics has secured over $1.2 billion from private and public sources. Dr. Siegall’s work philosophy revolves around Charles Darwin’s letter to his cousin regarding the minimal differences that distinguish humans. Accordingly, he concurs with Darwin that intense passion and focus rather than IQ, your social background or education level as the key to success.